Question

The completed financial statement columns of the spreadsheet for Concord Company are as follows. Concord Company Worksheet For the Year Ended December 31, 2022 Income Statement Account Titles Dr. Cr. Balance Sheet Dr. Cr. 9.100 10.600 3,000 24,000 Account No. 101 112 130 157 158 201 212 311 320 332 400 622 711 722 Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation Equip Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings Dividends Service Revenue Maintenance and Repairs Expense Depreciation Expense Insurance Expanse 4,500 9.100 2.600 20,000 7,000 19.200 60,400 1.700 3,200 1.800

Answer 1

Retained Earnings 12/31 $ 19,200 12/31 Bal. 12/31 12/31 Bal. No. 320 $ 7,000 $ 22,700 $ 10,500 Dividends No. 332 $ 19,200 12/31 Bal. $ 19,200 12/31 $ 19,200 $ 19,200 Income Summary No. 350 $ 60,400 12/31 12/31 $ 37,700 12/31 $ 22,700 $ 60,400 $ 60,400 Service Revenue No. 400 $ 60,400 12/31 $ 60,400 12/31 Bal. $ 60,400 $ 60,400 Maintenance and Repairs Expense No. 622 12/31 Bal. $ 1,700 12/31 $ 1,700 $ 1,700 $ 1,700

Depreciation Expense No. 711 $ 3,200 12/31 Bal. $ 3,200 12/31 $ 3,200 $ 3,200 Insurance Expense No. 722 $ 1,800 12/31 Bal. $ 1,800 12/31 $ 1,800 $ 1,800 Salaries and Wages Expense No. 726 $ 29,600 12/31 $ 29,600 12/31 Bal. $ 29,600 $ 29,600 Utilities Expense No. 732 $ 1,400 12/31 Bal. $ 1,400 12/31 $ 1,400 $ 1,400