Question

The following adjusted trial balance is the result of the attents made of the month of Sely for Ladonna Dougl Corporation Utile these adjusted values to perform the designtre for Ladonna Douglas Corporation Credo 2,150 Ladonna Douglas Corporation Adjusted Trial Balance July 31 Account Title Debit Cash 34,750 Accounts Receivable 9,750 Office Supplies 2,525 Store Supplies 4,75 Machinery 10,70 Accumulated Dreation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Wages Expense 37.425 Rent Expense 3.000 Advertising Expense 2.750 Office Supplies Expense 1.465 Store Supplies Expense 2,150 Depreciation Expense 575 14,300 11.500 33.725 20.000 13,250 41.500 123.175 123,175 of an amount box does not require an entry leave it blank July 31 Machinery Notes Payable Machinery Advertising Expense Accounts Receivable

Answer 1

Income Statement
Revenues:
Service revenue		41,500
Expenses:
Wages expense	37,425
Rent expense	3,000
Advertising expense	2,750
Office supplies expense	1,465
Store supplies expense	2,150
Depreciation expense	575
Total expenses		-47,365
Net Loss		($5,865)

Date	General Journal	Debit	Credit
Jul-31	Service revenue	$41,500
	Retained earnings	$5,865
	Wages expense		$37,425
	Rent expense		$3,000
	Advertising expense		$2,750
	Office supplies expense		$1,465
	Store supplies expense		$2,150
	Depreciation expense		$575
	( To close income summary)
Jul-31	Retained earnings	$13,250
	Dividends		$13,250
	( To close dividends)

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