Solution-Find the trial balance for nybrostrand company

Find the trial balance for nybrostrand company

Assignment Help Financial Accounting

Reference no: EM131195124

Find the trial balance for Nybrostrand Company. Prepare an income statement and balance sheet, in good format, based on Formats of Financial Statements (Presentations). After you have completed the two statements, comment on the success of the company. Support your answer with information from the financial statements you just prepared.

Nybrostrand Company
31-Dec-14
Trial Balance (accounts in alphabetical order)
	Debit	Credit
Accounts payable		$ 78,000
Accounts receivable	$ 36,500
Cash	30,000
Common stock		10,000
Depreciation expense	24,350
Cost of goods sold	307,000
Equipment (net of depreciation)	415,000
Insurance	1,400
Inventory	34,000
Long-term debt		127,000
Marketing	4,500
Paid-in capital		50,000
Property taxes	16,900
Rent	28,000
Retained earnings		?
Revenues		586,000
Salaries	78,500
Utilities	6,700

Total	982,850	982,850

SLP Assignment Expectations

The submission should be 2- to 4-pages and needs to include answers to all the questions listed above. Show computations, discuss the results, and include references in APA format.

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The solution relates to preparation of financial statements for Nybrostrand Company, using the trial balance for the company. The opening retained earnings are calculated as balancing figure in TB. Income statement, Balance Sheet and Statement of Retained Earnings has been prepared. Comments on financial position has also been provided.

Reference no: EM131195124

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Find the trial balance for nybrostrand company

Reference no: EM131195124

Reference no: EM131195124

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