Question

In: Accounting

Problem-6. The adjusted trial balance of Cooper Co. as of December 31, 2007, contains the following....

Problem-6. The adjusted trial balance of Cooper Co. as of December 31, 2007, contains the following.

Account title

Amount(Debit)

Amount(Credit)

Cash

19,470

-

Accounts Receivable

6,922

-

Prepaid rent

2,280                 

-

Equipment  

18,050                 

-

Accumulated Depreciation

-

4,895

Notes Payable

-

5,700

Accounts Payable

-

5,472

Common Stock

-

20,000

Retained Earnings

-

11,310

Dividends

3.000                     

-

Service Revenue

11,590

Salaries Expense

6,840                       

Rent Expense

2, 260

-

Depreciation Expense

145

-

Interest Expense

83

-

Interest Payable                                                                                          

83

Total

59,050

59,050

Instructions:

Prepare an Income Statement, Statement of Retained Earnings and Balance Sheet after taking the following adjustments.

  1. Unpaid salaries SR 2,160
  2. Accrued service revenue SR 3, 410
  3. Prepaid rent SR 260

Solutions

Expert Solution

Working note : -

Hope You Understood.

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ekkarill92 answered 2 years ago
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