Reference no: EM132850296
Question - The Gorman Group is a financial planning services firm owned and operated by Nicole Gorman. As of October 31, 20Y9, the end of the fiscal year, the accountant for The Gorman Group prepared an end-of-period spreadsheet, part of which follows:
The Gorman Group End-of-Period Spreadsheet For the Year Ended October 31, 20Y9 Adjusted Trial Balance
Account Title Dr. Cr.
Cash $16,880
Accounts Receivable 36,740
Supplies 5,740
Prepaid Insurance 12,400
Land 130,000
Buildings 470,000
Accumulated Depreciation-Buildings 152,900
Equipment 339,000
Accumulated Depreciation-Equipment 199,200
Accounts Payable 43,450
Salaries Payable 4,310
Unearned Rent 1,950
Common Stock 195,000
Retained Earnings 362,400
Dividends 32,600
Service Fees 619,630
Rent Revenue 6,540
Salaries Expense 444,220
Depreciation Expense-Equipment 24,100
Rent Expense 20,200
Supplies Expense 14,290
Utilities Expense 12,920
Depreciation Expense-Buildings 8,610
Repairs Expense 7,120
Insurance Expense 3,900
Miscellaneous Expense 6,660
Debit total 1,585,380
Credit total 1,585,380
Required - Create income statement, balance sheet and statement of stock holder equities.