(Prepare Financial Statements) The adjusted trial balance of Cavamanlis Co. as of December 31, 2012, contains the following.
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CAVAMANLIS CO. |
||
|
Account Titles |
Dr. |
Cr. |
|
Cash |
$18,972 |
|
|
Accounts Receivable |
6,920 |
|
|
Prepaid Rent Expense |
2,280 |
|
|
Equipment |
18,050 |
|
|
Accumulated Depreciation—Equipment |
$4,895 |
|
|
Notes Payable |
5,700 |
|
|
Accounts Payable |
4,472 |
|
|
Common Stock |
20,000 |
|
|
Retained Earnings |
11,310 |
|
|
Dividends |
3,000 |
|
|
Service Revenue |
12,590 |
|
|
Salaries and Wages Expense |
6,840 |
|
|
Rent Expense |
2,760 |
|
|
Depreciation Expense |
145 |
|
|
Interest Expense |
83 |
|
|
Interest Payable |
83 |
|
|
$59,050 |
$59,050 |
|
Instructions
(a) Prepare an income statement.
(b) Prepare a statement of retained earnings.
(c) Prepare a classified balance sheet.