Question

Please answer question E only. i attach prior work for reference. Thank you so much

Problem 4-02A a-e (Part Level Submission) The adjusted trial balance columns of the worksheet for Ayayai Company are as follows. . 130 157 Ayayai Company Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account No. Account Titles Dr. Cr. 101 Cash 5,000 112 Accounts Receivable 10,500 126 Supplies 1,200 Prepaid Insurance 1,800 Equipment 26,500 158 Accumulated Depreciation-Equipment 5,000 200 Notes Payable 12,000 201 Accounts Payable 5,800 212 Salaries and Wages Payable 2,100 Interest Payable 500 311 Common Stock 9,500 320 Retained Earnings 3,000 Dividends 6,300 400 Service Revenue 61,100 610 Advertising Expense 8,000 631 Supplies Expense 3,700 Depreciation Expense 5,000 Insurance Expense 3,000 726 Salaries and Wages Expense 27,500 Interest Expense 500 Totals 99,000 99,000 230 332 711 722

Answer 1

Solution

Ayayai Company

Post-Closing Trial Balance

Ayayai Company
Post Closing Trial Balance
Account Titles	Debit	Credit
Cash	$5,000
Accounts Receivable	$10,500
Supplies	$1,200
Prepaid Insurance	$1,800
Equipment	$26,500
Accumulated Depreciation		$5,000
Notes Payable		$12,000
Accounts Payable		$5,800
Salaries and Wages Payable		$2,100
Interest Payable		$500
Common Stock		$9,500
Retained Earnings		$10,100
	$45,000	$45,000

Computation of retained earnings balance –

Beg. Balance             $3,000

Add: net income         13,400

Total                            $16,400

Less: dividends           $6,300

Ending balance           $10,100