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Prepare the balance sheet for the fiscal year

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Reference no: EM132580460

Question 1: 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. Hint: you must close out temporary accounts to arrive at adjusted retained earnings balance.

Frederick Company

Adjusted Trial Balance

December 31. 2018

Account Title

Debit

Credit

Cash

585.150

 

Accounts Receivable

229.140

 

Supplies

16.955

 

Equipment

395.285

 

Accumulated Depreciation

 

5221260

Accounts Payable

 

74.235

Capital Stock

 

220.000

Retained Earnings

 

101.145

Service Revenue

 

893,105

Interest Income

 

1,500

Dividends

2,000

 

Rent Expense

58.500

 

Wages Expense

527,260

 

Supplies Expense

42,520

 

Utilities Expense

8,595

 

Depreciation Expense

145.544

 

 

Totals

$1522,545

$1.522415

Reference no: EM132580460

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