Question

Exercise 4-2 Extending accounts in a work sheet LO P1 The Adjusted Trial Balance for Planta Company follows. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period. PLANTA COMPANY Work Sheet Adjusted Trial Balance Income Statement cr. Dr. Cr. $ $ Dr. 6,200 27,094 42,000 $ 16,884 Balance Sheet and Statement of Owner's Equity Dr. Cr. 6,200 27,094 42,000 $ 16,884 30,000 14,446 3,305 2,705 64,968 17,894 No. Account Title 101 Cash 106 Accounts receivable 153 Trucks 154 Accumulated depreciation—Trucks 183 Land 201 Accounts payable 209 Salaries payable 233 Unearned fees 301 F. Planta, Capital 302 F. Planta, Withdrawals 401 Plumbing fees earned 611 Depreciation expense Trucks 622 Salaries expense 640 Rent expense 677 Miscellaneous expenses Totals Net income Totals 30,000 14,446 3,305 2,705 64,968 17,894 94,000 $ 94,000 $ 5,628 43,992 14,288 9,212 196,308 5,628 43,992 14,288 9,212 7 3,120 [ $ $ 196,308 94,000 123,188 102,308 $ 73,120 $ 94,000 $ 123,188 $ 102,308

Answer 1

--Requirement, as asked

	Adjusted Trial balance		Income Statement		Balance Sheet
Accounts title	Dr	Cr	Dr	Cr	Dr	Cr
Cash	$6,200				$6,200
Accounts receivables	$27,094				$27,094
Trucks	$42,000				$42,000
Accumulated Depreciation		$16,884				$16,884
Land	$30,000				$30,000
Accounts Payable		$14,446				$14,446
Salaries payable		$3,305				$3,305
Unearned Fees		$2,705				$2,705
F Planta Capital		$64,968				$64,968
F Planta Withdrawals	$17,894				$17,894
Plumbing fees earned		$94,000		$94,000
Depreciation expense	$5,628		$5,628
Salaries expense	$43,992		$43,992
Rent Expense	$14,288		$14,288
Misc expense	$9,212		$9,212
Totals	$196,308	$196,308	$73,120	$94,000	$123,188	$102,308
Net Income			$20,880			$20,880
Totals			$94,000	$94,000	$123,188	$123,188