fill in charts CALCULATOR MESSAGE M Problem 42A The adjusted

fill in charts

CALCULATOR MESSAGE M Problem 4-2A The adjusted trial balance columns of the worksheet for Concord Company are as follows Concord Company Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account No. Account Titles Cr by 112 Accounts Receivable 10,900 1,800 2,000 27,500 130 157 158 200 201 212 Pr Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Salaries and Wages Payable Interest Payable Common Stock 5,600 14,900 6,300 2.400 600 14,200 4.700 230 6,700 55,800 8,000 4,300 5,600 3,700 28,400 600 104,500 631 Supplies Expense Salaries and Wages Expense Totals 104,500 Complete the worksheet by extending the balances to the financial statement columns.

Solution

1.

Concord Company

Worksheet

Adjut. Trial Balance

Income Statement

Balance Sheet

A/c No.

Accounts Title

Debit

Credit

Debit

Credit

Debit

Credit

101

Cash

5000

5000

112

Accounts Receivables

10900

10900

126

Supplies

1800

1800

130

Prepaid Insurance

2000

2000

157

Equipment

27500

27500

158

Accumulated Depreciation

5600

5600

200

Notes Payable

14900

14900

201

Accounts Payable

6300

6300

212

Salaries and wages Payable

2400

2400

230

Interest Payable

600

600

311

Common Stock

14200

14200

320

Retained Earnings

4700

4700

332

Dividends

6700

-6700

400

Service Revenue

55800

55800

610

Advertising Expenses

8000

8000

631

Supplies Expenses

4300

4300

711

Depreciation Expenses

5600

5600

722

Insurance Expenses

3700

3700

726

Salaries and Wages Expenses

28400

28400

905

Interest Expenses

600

600

           TOTAL

104500

104500

50600

55800

53900

48700

Net Income

5200

5200

           Totals

104500

104500

55800

55800

53900

53900

2.

Concord Company

Income Statement

Revenue

       Service Revenue

55800

55800

Expenses

       Salaries and wages Expense

28400

       Supplies Expense

4300

       Depreciation Expense

5600

       Advertising Expense

8000

       Insurance Expense

3700

       Interest Expenses

600

     Total expenses

50600

Net Income

5200

Concord Company

Statement of Retained earnings

Retained Earnings on Jan. 1, 2010

4700

Add: Net Income for 2010

5200

9900

Less: Dividend paid during 2010

-6700

Retained Earnings on Dec. 31, 2010

3200

3.

Concord Company

Statement of Retained earnings

Retained Earnings on Jan. 1, 2010

4700

Add: Net Income for 2010

5200

9900

Less: Dividend paid during 2010

-6700

Retained Earnings on Dec. 31, 2010

3200

4.

Concord Company

Balance Sheet

ASSETS

Current Assets

      Cash

5000

      Accounts Receivables

10900

      Supplies

1800

      Prepaid expenses

2000

              Total Current Assets

19700

   Non-current Assets

      Equipment’s

27500

       Less: Accumulated Depreciation

-5600

               Total Non-current Assets

21900

TOTAL ASSETS

41600

LIABILITIES AND EQUITY

Current liabilities

      Accounts Payable

6300

      Notes Payable

14900

      Salaries and Wages Payable

2400

      Interest payable

600

            Total Current Liabilities

24200

   Non-current liabilities

                   Total liabilities

24200

   Equity

       Common Stock

14200

       Retained Earnings

3200

                    Total Equity

17400

TOTAL LIABILITIES AND EQUITY

41600

Concord Company
Worksheet
		Adjut. Trial Balance	Income Statement	Balance Sheet
A/c No.	Accounts Title	Debit	Credit	Debit	Credit	Debit	Credit
101	Cash	5000				5000
112	Accounts Receivables	10900				10900
126	Supplies	1800				1800
130	Prepaid Insurance	2000				2000
157	Equipment	27500				27500
158	Accumulated Depreciation		5600				5600
200	Notes Payable		14900				14900
201	Accounts Payable		6300				6300
212	Salaries and wages Payable		2400				2400
230	Interest Payable		600				600
311	Common Stock		14200				14200
320	Retained Earnings		4700				4700
332	Dividends	6700					-6700
400	Service Revenue		55800		55800
610	Advertising Expenses	8000		8000
631	Supplies Expenses	4300		4300
711	Depreciation Expenses	5600		5600
722	Insurance Expenses	3700		3700
726	Salaries and Wages Expenses	28400		28400
905	Interest Expenses	600		600
	TOTAL	104500	104500	50600	55800	53900	48700
	Net Income			5200			5200
	Totals	104500	104500	55800	55800	53900	53900