Question

Appendix: Financial Statements From an End-of-Period Spreadsheet

Alert Security Services Co. offers security services to business clients.

Alert Security Services Co. End-of-Period Spreadsheet For the Year Ended October 31, 2016
		Adjusted Trial Balance							Income Statement			Balance Sheet
Account Title		Dr.			Cr.				Dr.	Cr.		Dr.	Cr.
Cash		12
Accounts Receivable		103
Supplies		4
Prepaid Insurance		2
Land		190
Equipment		50
Accum. Depr. - Equipment					7
Accounts Payable					36
Wages Payable					1
Common Stock					50
Retained Earnings					210
Dividends		8
Fees Earned					213
Wages Expense		111
Rent Expense		12
Insurance Expense		10
Utilities Expense		6
Supplies Expense		4
Depreciation Expense		3
Miscellaneous Expense		2
		517			517

Prepare an income statement for Alert Security Services Co.

Alert Security Services Co.
Income Statement
For the Year Ended October 31, 2016
		$
Expenses:
	$
Total expenses
		$

Prepare a retained earnings statement for Alert Security Services Co.

Alert Security Services Co.
Retained Earnings Statement
For the Year Ended October 31, 2016
		$
	$
		$

Prepare a balance sheet for Alert Security Services Co.

Alert Security Services Co.
Balance Sheet
October 31, 2016
Assets
Current assets:
		$
Total current assets			$
Property, plant, and equipment:
		$
	$
Total property, plant, and equipment
Total assets			$
Liabilities
Current liabilities:
		$
Total liabilities			$
Stockholders' Equity
		$
Total stockholders' equity
Total liabilities and stockholders' equity			$

Answer 1

	Adjusted Trial Balance		Income Statement		Balance Sheet
Account Title	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.
Cash	$12				$12
Accounts Receivable	$103				$103
Supplies	$4				$4
Prepaid Insurance	$2				$2
Land	$190				$190
Equipment	$50				$50
Accum. Depr. - Equipment		$7				$7
Accounts Payable		$36				$36
Wages Payable		$1				$1
Common Stock		$50				$50
Retained Earnings		$210				$210
Dividends	$8				$8
Fees Earned		$213		$213
Wages Expense	$111		$111
Rent Expense	$12		$12
Insurance Expense	$10		$10
Utilities Expense	$6		$6
Supplies Expense	$4		$4
Depreciation Expense	$3		$3
Miscellaneous Expense	$2		$2
Total	$517	$517	$148	$213	$369	$304
Net Income			$65			$65
TOTAL	$517	$517	$213	$213	$369	$369

Alert Security Services Co.
Income Statement
For the Year Ended October 31, 2016
Fees Earned		$213
Expenses:
Wages Expense	$111
Rent Expense	$12
Insurance Expense	$10
Utilities Expense	$6
Supplies Expense	$4
Depreciation Expense	$3
Miscellaneous Expense	$2
Total expenses		$148
Net Income		$65

Alert Security Services Co.
Retained Earnings Statement
For the Year Ended October 31, 2016
Retained Earnings Beginning		$210
Add: Net Income	$65
Less: Dividends	$8
Net Increase (decrease)		$57
Retained Earnings Ending		$267

Alert Security Services Co.
Balance Sheet
October 31, 2016
Assets
Current assets:
Cash		$12
Accounts Receivable		$103
Supplies		$4
Prepaid Insurance		$2
Total current assets			$121
Property, plant, and equipment:
Land		$190
Equipment	$50
Less: Accumulated Depr _ Equipment	$7	$43
Total property, plant, and equipment			$233
Total assets			$354
Liabilities
Current liabilities:
Accounts Payable		$36
Wages Payable		$1
Total liabilities			$37
Stockholders' Equity
Common Stock		$50
Retained Earnings		$267
Total stockholders' equity			$317
Total liabilities and stockholders' equity			$354