avorites Tools Help Weygandt Financial Accounting 10e Help I

avorites Tools Help Weygandt, Financial Accounting, 10e Help I System Announcements Exercise 3-18 (Part Level Submission) The adjusted trial balance for Skysong, Inc. is given in below. Skysong, Inc. Trial Balance August 31, 2019 Before Adjustment After Adjustment Dr Cr Dr. Cr. $10,500 8,600 2,400 4,000 12,300 10,500 10,000 500 2,500 12,300 Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable 3,800 5,800 Salaries and Wages Payable Unearned Rent Revenue Common Stock Retained Earnings Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expense $4,600 5,800 1,000 600 9,900 3,600 35,400 12,100 1,600 9,900 3,600 34,000 11,100 17,200 18,200 1,900 14,800 1,500 800 14,800 $69,800 $69,800 $73,000 $73,000 (a) Your answer is correct. n.wileyplus.com/edugen/shared/assignment/test/aglist.uni?id-asnmt2164693 N1002D

Solution

SKYSONG INC

BALANCE SHEET

AS ON AUGUST 31 ,2019

SKYSONG INC BALANCE SHEET AS ON AUGUST 31 ,2019
ASSETS
cash		10500
Accounts receivable		10000
Supplies		500
Prepaid insurance		2500
Equipment	12300
Accumulated depreciation-equipment	(4600)	7700
Total asset		31200
Liabilities and stockholders equity
Liabilities
Accounts payable	5800
salaries and wage payable	1000
Unearned rent revenue	600
Total liabilities		7400
stockholders equity
common stock	9900
Retained earnings	13900
Total stockholders equity		23800
Total liabilities and sockholders equity		31200