Adjusted Trial Balance Debit Credit Cash $40,000 Accounts receivable 38,000 Supplies 1,000 Prepaid Insurance 5,200 Property,...

Adjusted Trial Balance	Debit	Credit
Cash	$40,000
Accounts receivable	38,000
Supplies	1,000
Prepaid Insurance	5,200
Property, Plant & Equipment	909,000
Accumulated depreciation		$250,000
Accounts payable		22,000
Salaries payable		20,000
Utilities payable		1,500
Deferred revenue		6,000
Notes payable (due in 5 yrs)		100,000
Common stock		300,000
Retained earnings		250,000
Dividends	50,000
Service revenue-new construction		356,000
Service revenue-remodeling		574,000
Salaries expense	750,200
Depreciation expense	50,000
Interest expense	8,000
Supplies expense	2,600
Utilities expense	24,000
Service fee expense	1,500
Total	$1,879,500	$1,879,500

Identify & Explain the Following:

Net Income:
Total Current Assets:
Book Value of Equipment:
Total Assets:
Identify ALL the Temporary Accounts from the following:

Cash, notes payable, depreciation expense, service fee expense, accumulated depreciation, salaries expense, dividends, service revenue, supplies.

Expert Solution

ekkarill92 answered 8 months ago

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