Prepare Financial Statements from Adjusted Trial Balance Worksheet.
Prepare Financial Statements from Adjusted Trial Balance Worksheet. The 2012 year-end adjusted balances taken from the general ledger of Cooperstown Services, Inc. are listed below in general ledger order. Coopertown Suppliers, Inc. DR CR Cash $12,950 Accounts receivable 28,150 Supplies 8,400 Prepaid insurance 9,500 Land 115,000 Buildings 360,000 Equipment 260,000 Accumulated depreciation $239,900 Accounts payable 35,300 Salaries payable 7,300 Taxes payable Common stock 5,200 31,500 Additional paid-in capital – Common Retained earnings 15,400 427,600 Dividends 25,400 Service revenue 475,000 Salaries expense 335,600 Depreciation expense 25,100 Supplies expense 12,950 Insurance expense 8,200 Miscellaneous expense 30,850 Utilities expense 5,100 Total $1,237,200 $1,237,200 Transfer these accounts and balances to a spreadsheet worksheet and prepare an Income statement, a Classified Balance Sheet, and a Statement of Retained Earnings all in good form using proper headings for each statem...