Solution-Prepare the balance sheet for the fiscal year

Prepare the balance sheet for the fiscal year

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Reference no: EM132403954

Question

The following is the Easton Company's adjusted Trial Balance.

Easton Company

Adjusted Trial Balance, December 31, 2018

Account Title Debit Credit

Cash $88,665

Accounts Receivable 232,000

Supplies 17,000

Equipment 395,000

Accumulated Depreciation $224,260

Accounts Payable 72,555

Capital Stock 220,000

Retained Earnings 127,145

Service Revenue 877,105

Interest Income 5,500

Dividends 7,000

Rent Expense 59,900

Wages Expense 529,000

Supplies Expense 40,000

Utilities Expense 8,000

Depreciation Expense 150,000

________

Totals $1,526,565 $1,526,565

Use this information to prepare the Balance Sheet for the fiscal year. There are additional lines in the formatted Balance Sheet form to allow for authorized alternate presentations.

Reference no: EM132403954

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Prepare the balance sheet for the fiscal year

Reference no: EM132403954

Reference no: EM132403954

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