Given the Adjusted Trial Balance Below,prepare (In Good Form)an Income

question 184

Essay

Given the adjusted trial balance below,prepare (in good form)an income statement,statement of retained earnings,and balance sheet.The name of the business is Duncore Secretarial Service and the accounting period coincides with the calendar year.
$\begin{array}{c}\text {Duncore Secretarial Service}\\\text {Adjusted Trial Balance}\\\text {December 31, 2010}\\\begin{array}{|l|r|r|} \hline \text { Cash } & \$ 565 \\\text { Accounts Receivable } & 600 \\\text { Supplies } & 10 \\\text { Prepaid Insurance } & 10 \\\text { Office Equipment } & 1,000\\\text { Accumulated Depreciation-Office Equipment }&&\$150 \\\text { Accounts Payable }&&600 \\\text { Salaries Payable }&&35 \\\text { Common Stock }&&500 \\\text { Retained Earnings } &&200\\\text { Service Revenue Earned }&&1,100\\\text { Salaries Expense } & 560 & \\\text { Supplies Expense } & 40 & \\\text { Insurance Expense } & 50 & \\\text { Depreciation Expense-Office Equipment } & 50 \\ & \$ 2.585 & \$ 2.585 \\ \hline \end{array}\end{array}$

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