Question

thank you

Exercise 4-09 al,a2-b Plevin Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Credit Debit $9,840 8,780 15,900 Plevin Company Adjusted Trial Balance July 31, 2019 No. Account Titles 101 Cash Tu 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries and Wages Expense 732 Utilities Expense $7,400 4,220 1,800 20,000 25,200 16,000 64,000 6,500 8,000 55,700 14,900 $129,120 $129,120

Answer 1

64000 6500 Pelvine Company Income Statement As on July 31, 2019 Revenue: Service revenue Rent Revenue Total Revenue Expenses: Salaries and wages Expense Utilities Expense Depreciation Expense Total Expense Net Loss 70500 55700 14900 8000 78600 -8100 Pelvine Company Retained Earnings As on July 31, 2019 Beginning Retained Earnings Less: Net Loss Less: Dividends 25200 -8100 - 16000 -24100 1100 Ending Retained Earnings

9840 8780 18620 15900 7400 i Pelvine Company Balance sheet As on July 31, 2019 Assets Current assets: Cash Account receivable Total current assets Property, plant and equipment: Equipment Less: Accumulated Depreciation- Equipment Total assets Liabilities Current liabilities: Accounts payable Unearned service revenue Total current liabilities Stockholders' Equity Stockholders' equity Common stock Retained earnings Total stockholders' Equity Total liabilities and stockholders' equity 8500 27120 4220 1800 60201 20000 1100 21100 27120