Business, 01.02.2021 22:50 Theresab2021
The adjusted trial balance of Joseph Cooper Co. as of December 31. 2020, contains the following.
JOSEPH COOPER CO.
ADJUSTED TRIAL BALANCE DECEMBER 31, 2020
Debit Credit
Cash $20.012
Accounts Receivable 7,460
Prepaid Rent 2,820
Equipment 18.590
Accumulated Depreciation-Equipment $5.435
Notes Payable 6,240
Accounts Payable 6.012
Common Stock 20,540
Retained Earnings 11,850
Dividends 3.540
Service Revenue 12.130
Salaries and Wages Expense 7.380
Rent Expense 2.218
Depreciation Expense 187
Interest Expensc 125
Interest Payable 125
$62.332 $62.332
Required:
1. Prepare an income statement
2. Prepare a statement of retained earnings.
3. Prepare a classified balance sheet.
Answers: 2
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The adjusted trial balance of Joseph Cooper Co. as of December 31. 2020, contains the following.
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