Reference no: EM132681861
Question - Preparing a balance sheet and an income statement for the following:
Trial Balance for January Coolair
Debits Credits
Cash 60,689.78
Petty Cash 870.00
Accounts Receivable 18,785.50
Inventory 56,608.88
Prepaid Insurance 8,976.00
Security Deposit 1,210.00
Computer Equipment 3,452.12
Furniture and Fixture 7,854.00
Truck 32,174.00
Accounts Payable 40,004.00
Notes Payable 30,274.00
Capital Stock 80,000.00
Paid-in Capital 25,000.00
Retained Earnings Equipment Sales 52,392.50
Installation Service 7,001.00
Repair Service 4,102.50
Advertising Expense 2,000.00
Truck Insurance 322.00
Conferences and Seminars 175.00
Supplies 229.00
Cost of Goods Sold 29,041.12
Dues and Subscriptions 500.00
Maintenance/Janitorial 510.00
Promotional Expense 95.00
Rent Expense 4,255.00
Salary Expense 11,026.60
Total 238,774.00 238,774.00