Question

In: Accounting

The adjusted trial balance of Charles Cooper Co. as of December 31, 2020, contains the following....

The adjusted trial balance of Charles Cooper Co. as of December 31, 2020, contains the following.

CHARLES COOPER CO.
ADJUSTED TRIAL BALANCE
DECEMBER 31, 2020

Debit

Credit

Cash

 $19,957

Accounts Receivable

 7,405

Prepaid Rent

 2,765

Equipment

 18,535

Accumulated Depreciation-Equipment

 $5,380

Notes Payable

 6,185

Accounts Payable

 5,957

Common Stock

 20,485

Retained Earnings

 11,795

Dividends

 3,485

Service Revenue

 12,075

Salaries and Wages Expense

 7,325

Rent Expense

 2,222

Depreciation Expense

 183

Interest Expense

 121

Interest Payable

 121

$61,998

$61,998

a)

Prepare an income statement. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

b) Prepare a statement of retained earnings

c) Prepare a classified balance sheet

Solutions

Expert Solution

ekkarill92 answered 1 year ago
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