Before Adjustment After Adjustment 79650 79650 83230 83230 O

Before
Adjustment

After
Adjustment

$79,650

$79,650

$83,230

$83,230

Open Show Work

The adjusted trial balance for Wildhorse Co. is given below: WILDHORSE CO. Trial Balance August 31, 2017 Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash $10,950 $10,950 Accounts Receivable 8,870 9,590 Supplies 2,930 1,630 Prepaid Insurance 4,380 3,070 Equipment 16,800 16,800 Accumulated Depreciation—Equipment $3,780 $4,980 Accounts Payable 5,190 5,190 Salaries and Wages Payable 0 1,660 Unearned Rent Revenue 2,000 1,160 Common Stock 17,920 17,920 Retained Earnings 5,940 5,940 Dividends 2,860 2,860 Service Revenue 32,640 33,360 Rent Revenue 12,180 13,020 Salaries and Wages Expense 16,470 18,130 Supplies Expense 0 1,300 Rent Expense 16,390 16,390 Insurance Expense 0 1,310 Depreciation Expense 0 1,200 $79,650 $79,650 $83,230 $83,230

Solution

1)

WILDHORSE CO

INCOME STATEMENT

FOR THE YEYAR ENDED AUGUST 31

WILDHORSE CO

STATEMENT OF RETAINED EARNING

FOR THE YEYAR ENDED AUGUST 31

3)

WILDHORSE CO

BALANCESHEET

AS ON AUGUST 31