Reference no: EM13337412

Using the adjusted trial balance listed below, prepare a single-step Income Statement and simple Balance Sheet for Smith Delights Bakery for the year ended December 31, 2011.

Smith Delights Bakery

Adjusted Trial Balance

December 31, 2011

Debit  Credit

Cash     45,500

Accounts Receivable    4,500

Supplies    12,500

Furniture    15,000

Accumulated Depr - Furn   2,500

Equipment 45,000

Accumulated Depr - Equip 5,000

Accounts Payable 11,200

Notes Payable 45,000

Smith, Capital 75,000

Smith, Withdrawals 3,000

Service Revenue    56,500

Advertising Expense    6,200

Depreciation Expense  5,500

Rent Expense   18,000

Supplies Expense   7,500

Telephone Expense 3,000

Utilities Expense     8,000

Wages Expense     21,500

Totals   195,200     195,200