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The adjusted trial balance for Sunland Company is given below:
Prepare the income statement for the year ended August 31.
Prepare the retained earnings statements for the year ended August 31. (List items that increase retained earnings first.)
Prepare the classified balance sheet at August 31. (List Current Assets in order of liquidity.)
SUNLAND COMPANY Trial Balance August 31, 2017 Before Adjustment Dr After Adjustment Cr Dr Cr Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense $10,800 9,270 2,660 4,270 $10,800 9,940 830 2,910 15,350 15,350 $3,454 5,060 $4,654 5,060 1,470 1,100 14,070 5,900 1,970 14,070 5,900 2,780 2,780 34,070 13,480 34,740 14,350 18,050 1,830 16,294 16,580 16,294
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