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Home Q & A Board Other Fields Homework Help Business Accounting
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Tomm Tomm
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6 years ago
Given the adjusted trial balance for Destiny Inc. below as of December 31, 2014 prepare the income statement and statement of retained earnings for the year ended December 31, 2014.
   Destiny Inc.
   Adjusted Trial Balance
   December 31, 2014   
   Debit   Credit
Cash   $62,500
Accounts receivable   40,200
Supplies   550
Prepaid insurance   820
Equipment   36,000
Accumulated depreciation-equipment      $8,800
Accounts payable      6,500
Unearned service revenue      15,700
Salary payable      42,650
Common shares       23,295
Retained earnings      10,000
Dividends    8,000
Service revenue      82,200
Salary expense   32,850
Supplies expense   3,200
Insurance expense   800
Depreciation expense-equipment   925
Utilities expense   3,300   ________
   $189,145   $189,145
Textbook 
Financial Accounting, Canadian Edition

Financial Accounting, Canadian Edition


Edition: 5th
Authors:
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msayed2004msayed2004
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6 years ago
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Tomm Author
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6 years ago
Good timing, thanks!
TAT1238
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Yesterday
Thanks for your help!!
mikey3091
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2 hours ago
Thank you, thank you, thank you!
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