Adjusted Trial Balance Worksheet

written by - Comments off

Prepare Financial Statements from the following “Adjusted Trial Balance Worksheet”. The 2012 year-end adjusted balances taken from the general ledger of Cooperstown Services, Inc. are listed below in general ledger order.Transfer these accounts and balances to a spreadsheet worksheet and prepare an Income statement, a Classified Balance Sheet, and a Statement of Retained Earnings all in good form using proper headings for each statement. Note that Cooperstown is a service company so there is no cost of goods sold in its chart of accounts. Also, assume that all the liabilities are current liabilities. Keep in mind that you should not report any accounts without balances in your statements.

Coopertown Suppliers, Inc.

Cash 12,950

Accounts receivable 28,150

Supplies 8,400

Prepaid insurance 9,500

Land 115,000

Buildings 360,000

Equipment 260,000

Accumulated depreciation 239,900

Accounts payable 35,300

Salaries payable 7,300

Taxes payable 5,200

Common stock 31,500

Additional aid in capitial 15,400

Retained earnings 427,600

Dividneds 25,400

Service revenue 475,000

Salaries Expense 335,000

Depreciation expense 25,100

Supplies expense 12,950

Insurance expense 8,200

Miscellaneous expenses 30,850

Utilities expense 5,100

Total 1,237,200

Hint: Total assets = $554,100 (as does Total liabilities and Stockholders’ equity).

Note: Currently, Regular Priority times are 3-5 days. Log in to upload files with your questions. Tutorials you buy shall be emailed to your PAYPAL email. Talking about quality references: finding and referencing an (n+1)th article for your tutorial requires substantially more time than the (n)th article referenced, therefore you will see the price increasing with the number of references you require in some questions. Wanted to contact us over something related to this question? Email us: support AT

© 2010 Customized Homework help. - Powered by OM