Kristen Company Adjusted Trial Balance July 31, 2014 No. Account Titles Debits Credits 101 Cash $  9,840 112 Accounts Receivable 8,140 157 Equipment 15,900 167 Accumulated Depreciation—Equip. $  5,400 201 Accounts Payable 2,220 208 Unearned Rent

Kristen Company

Adjusted Trial Balance

July 31, 2014

No.Account TitlesDebitsCredits

101Cash$  9,840

112Accounts Receivable8,140

157Equipment15,900

167Accumulated Depreciation—Equip.$  5,400

201Accounts Payable2,220

208Unearned Rent Revenue3,800

311Common Stock18,000

320Retained Earnings20,260

332Dividends12,000

404Service Revenue64,000

429Rent Revenue6,500

711Depreciation Expense3,700

720Salaries and Wages Expense55,700

732Utilities Expense14,900

$120,180 $120,180 

Instructions

a)  Prepare the income statement, retained earnings statement and the classified balance sheet

Kristen CO

For the Quarter Ended March 31, 2014

Income Statement

Eric Baker P.I., Inc.

Worksheet

For the Quarter Ended March 31, 2014

Account titlesTrail BalanceAdjustments               Adjusted Trail Balance               Income StatementBalance Sheet

DebitCreditDebitCreditDebitCreditDebitCreditDebitCredit

Cash11,41011,41011,410

Accounts Rec.5,92010807,0007000

Supplies1,250770480480

Prepaid Insurance2,4006001,8001,800

Equipment30,00030,00030,000

Notes Payable10,00010,00010,000

Accounts Payable12,35012,35012,350

Common Stock20,00020,00020,000

Dividends600600600

Service Revenue14,200108015,28015,280

Salaries2,2402,2402,240

Travel Expense1,3001,3001,300

Rent Expense1,2001,2001,200

Miscellaneous Exp.230230230

56,55056,500

Sup exp770770770

Dep exp720720720

Acc dep equip720720720

Int exp300300300

Int payable300300300

Insurance exp600600600

totals34703470 58,650 58,650 7,360 15,280 51,290 43,370 

Net Income or loss79207920

totals 15,280 15,280 51,290 51,290 

Adjusting Journal entriesGeneral Journal

Eric Baker

For the Quarter Ended March 31, 2014Mar. 31

Income Statement

31

31

31

31

Eric Baker

Retained Earnings Statement

For the Quarter Ended March 31, 2014

t-account

Retained Earnings

0beginning

Dividends00net Income

-   end balance

Eric Baker

Balance Sheet

31-Mar-14

Exercise #3

The adjusted trial balance for Rich Landscape at December 31, 2014, contains the following accounts.

DebitsCredits

Buildings$128,000 Common Stock 80,000

Accounts Receivable7,540Retained Earnings28,000

Prepaid Insurance4,680Accumulated Depreciation-Buildings42,600

Cash18,040Accounts Payable12,300

Equipment62,400Notes Payable95,000

Land67,000Accumulated Depreciation-Equipment18,720

Insurance Expense780Interest Payable2,600

Depreciation Expense7,360Service Revenue19,180

$295,800 $298,400

Prepare the classified balance sheet