Question

The adjusted trial balance columns of the worksheet for Blue Spruce Company are as follows: Complete the worksheet Blue Spruce Company Worksheet (Partial) Adjusted Trial Balance Income Statement Balano Account Titles Dr. Cr. Dr. Cr. Dr. Cash 10,000 Accounts Receivable 7.200 Prepaid Rent 2,000 Equipment 22,900 5,000 5,800 Accumulated Depreciation -Equip Notes Payable Accounts Payable Common Stock 5,500 18,040 MacBook Air

Answer 1

Adjusted Trial Balance	Income Statement	Balance Sheet
Account Titles	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.
Cash	10000				10000
Accounts Receivable	7200				7200
Prepaid Rent	2000				2000
Equipment	22900				22900
Accumulated Depreciation -Equip		5000				5000	Accumulated Depreciation should be subtracted from the Equipments, we can show it as -5000 in debit side.
Notes Payable		5800				5800
Accounts Payable		5500				5500
Common Stock		18040				18040
Retained Earning		8340				8340
Dividends	3700				3700		Assuming that the dividend are paid , So we have to reverse the dividend payable in current liabilities, we can also show it as -3700 in credit side.
Service Revenue		15500		15500
Salaries and wages	10980		10980
Rent Expense	700		700
Depreciation Expenses	700		700
Interest Expenses	50		50
Interest Payable		50				50
Totals	58230	58230	12430	15500
Net Income			3070			3070
Totals					45800	45800
Accounts titles Position in Balance Sheet
Current Asset		Current Liabilities		Stockholder's Equity
Cash		Notes Payable		Common Stock
Accounts Receivable		Accounts Payable		Retained Earning
Prepaid Rent		Interest Payable
Equipment
Accounts titles Position in Income Statement
Revenue		Operating Expense
Service Revenue		Salaries and wages
		Rent Expense
		Depreciation Expenses
		Interest Expenses