Question

The adjusted trial balance columns of the worksheet for Ayayai Company are as follows.

Ayayai Company Worksheet (Partial) For the Month Ended April 30, 2019
		Adjusted Trial Balance
Account Titles		Dr.		Cr.
Cash		11,500
Accounts Receivable		7,620
Prepaid Rent		2,180
Equipment		22,950
Accumulated Depreciation—Equip.				5,000
Notes Payable				5,800
Accounts Payable				4,500
Common Stock				20,500
Retained Earnings				8,550
Dividends		3,500
Service Revenue				15,500
Salaries and Wages Expense		10,800
Rent Expense		700
Depreciation Expense		600
Interest Expense		60
Interest Payable				60
Totals		59,910		59,910 income statement, balance sheet retained earnings statment

Answer 1

Ayayai Company
Income statement For the Month Ended April 30, 2019
Service Revenue		15500
Expense
Salaries and Wages Expense	10800
Rent Expense	700
Depreciation Expense	600
Interest Expense	60
Total Expense		12160
Net Income		3340

Ayayai Company
Retained earnings statment
Retained Earnings at Beginning	8550
Add Net Income	3340
Less Dividend	3500
Retained Earnings at the End of the Perod	8390

Ayayai Company
Balance sheet
Asset
Current Asset
Cash	11500
Accounts Receivable	7620
Prepaid Rent	2180
Total Current Asset		21300
Equipment	22950
Accumulated Depreciation—Equip.	5000	17950
Total Assets		39250
Liabilities and Stockholder Equity
Notes Payable	5800
Accounts Payable	4500
Interest Payable	60
Total Liabilities		10360
Stockholder equity
Common Stock	20500
Retained Earnings	8390
Total Stockholder equity		28890
Total Liabilities $Stockholder equity		39250