Question

plete) This Qu Data Table Green Advertising Services Adjusted Trial Balance December 31, 2018 abel o Balance Account Title Cash Accounts Receivable Office Supplies Land Debit Credit $14,000 15,800 6,500 18,400 47,900 Building Accumulated Depreciation-Building Furniture Accumulated Depreciation-- Furniture Accounts Payable Salaries Payable Unearned Revenue Common Stock Retained Farninns s 36,100 19,600 14,100 10,600 7,200 16,000 30,000 31 400 arenth Print Done

Answer 1

Ans.(1)	Green Advertising Services
	Income Statement
	year Ended December 31, 2018
	Particulars				Amt.($)	Amt.($)
	Service Revenue					49,800
	Total Revenue					$    49,800
	Less: Expenses
	Salaries Expense				28,600
	Supplies Expense				8,400
	Depreciation Expense-Building				2,900
	Depreciation Expense-Furniture				1,300
	Advertise Expense				13,500
	Total Expenses					$    54,700
	Net Income (loss)					$    (4,900)
Ans.(2)	Green Advertising Services
	Statement of Retained Earnings
	year Ended December 31, 2018
	Particulars					Amt.($)
	Retained Earnings at January 1, 2018					$    31,400
	Less: Dividends					18,300
	Add: Net Income (Loss)					(4,900)
	Retained Earnings at December 31, 2018					$      8,200
Ans.(3)	Green Advertising Services
	Balance Sheet
	year Ended December 31, 2018
	Particulars				Amt.($)	Amt.($)
	Assets
	Current Assets:
	Cash				14,000
	Accounts Receivable				15,800
	Office Supplies				6,500
	Total Current Assets					$    36,300
	Fixed Assets:
	Land					18,400
	Building				47,900
	Less: Accumulated Depreciation-Building				(36,100)	11,800
	Furniture				19,600
	Less:Accumulated Depreciation-Furniture				(14,100)	5,500
	Total Fixed Assets					$    35,700
	Total Asstes					$    72,000
	Liabilities
	Current Liabilities:
	Accounts Payable				10,600
	Salaries Payable				7,200
	Unearned Revenue				16,000
	Total Current Liabilities					$    33,800
	Stockholders' Equity
	Common stock				30,000
	Retained Earnings				8,200
	Total Stockholders Equity					$    38,200
	Total Liabilities and Stockholders Equity					$    72,000