Sunday, 24 November 2019

(Prepare Financial Statements) The adjusted trial balance of Anderson Cooper Co. as of December 31,

(Prepare Financial Statements) The adjusted trial balance of Anderson Cooper Co. as of December 31, 2020, contains the following.
Anderson Cooper Co.
Adjusted Trial Balance
December 31, 2020

   Dr.    Cr.
Cash $19,472
Accounts Receivable 6,920
Prepaid Rent 2,280
Equipment 18,050
Accumulated Depreciation—Equipment
$  4,895
Notes Payable
5,700
Accounts Payable
5,472
Common Stock
20,000
Retained Earnings
11,310
Dividends 3,000
Service Revenue
11,590
Salaries and Wages Expense 6,840
Rent Expense 2,260
Depreciation Expense 145
Interest Expense 83
Interest Payable
     83

$59,050 $59,050
Instructions
a.   Prepare an income statement.
b.   Prepare a retained earnings statement.
c.   Prepare a classified balance sheet.

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