Question

To check your journal entries and postings, here is the trial balance as of November 31, 2014 APPLE REALTY Trial Balance November 30, 2014 Cash... Accounts Receivable..... Prepaid Insurance ...... Office Supplies Land... Accounts Payable.......... Unearned Rent.. Notes Payable ... ....... Common Stock ..................... Retained Earnings. Dividends Fees Earned .... ......... . . Salary and Commission Expense....... Rent Expense..... ..... Advertising Expense........ Automobile Expense ....................... Miscellaneous Expense .............. Debit Credit Balances Balances 18.170 108,200 12,900 3,300 75.000 6.670 3,600 65.000 10.000 53,080 30.600 435.000 250.800 32,000 28,380 11.740 2.260 578.350 578.350 The fiscal year of Apple Realty runs from December 1 to November 30. Complete an income statement, statement of stockholders' equity, and a balance sheet, in good form, for Apple Realty for the end of the fiscal year. No new common stock was issued.
i need to make a income statement, statement of stockholders equity, and a balance sheet, in a good form

Answer 1

Answer is given below in required format

APPLE REALTY Income Statement for the year ended November 30, 2014 Fees Earned $435,000 Less: Expense Salary and Commission expense $250,800 Rent expense $32,000 Advertising expense $28,380 Automobile expense $11,740 Miscellaneous expense $2,260 Total expenses $325,180 Net Income $109,8201 APPLE REALTY Statement of Changes in Stockholders' Equity For the year ended November 30, 20Y4 Opening balance of Retained earnings Add: Net Income during the year Less: Dividend paid Closing balance of Retained earnings $53,080 $109,820 -$30,600 $132,300 APPLE REALTY Balance Sheet as on November 30, 2014 Assets Current Assets Cash Accounts Receivable Prepaid insurance Office Supplies $18,170 $108,200 $12,900 $3,300 $142,570 $75,000 $217,570 Fixed Assets Land Total Assets Liabilities and Stockholders' equity Current Liabilities: Accounts payable Unearned Rent $6,670 $3,600 $10,270 Long-term Liabilities: Notes Payable Total Liabilities $65,000 $75,270 Stockholders' Equity: Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' equity $10,000 $132,300 $142,300 $217,570