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Cavamanlis Co. December 31

Price: $3.99 


(Prepare Financial Statements) The adjusted trial balance of Cavamanlis Co. as of December 31,
2010, contains the following.


CAVAMANLIS CO.

Adjusted Trial Balance

December 31, 2010

Account Titles
Debit
Credit

Cash
$19,989


Accounts Receivable
7,937


Prepaid Rent
3,297


Equipment
19,067


Accumulated Depreciation

$5,912

Notes Payable

6,717

Accounts Payable

5,489

Common Stock

21,017

Retained Earnings

12,327

Dividends
4,017


Service Revenue

13,607

Salaries Expense
7,857


Rent Expense
2,669


Depreciation Expense
236


Interest Expense
174


Interest Payable

174


$65,243
$65,243

Instructions

(a) Prepare an income statement.

(b) Prepare a statement of retained earnings.

(c) Prepare a classified balance sheet

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