Chat with AI
Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372 Exercise 6
Preparing Financial Statements from a Trial Balance (Dividends Included)
The following accounts are taken from Equilibrium Riding, Inc., a company that specializes occupational therapy and horseback riding lessons, as of December 31, 2013.
Required :
Using the unadjusted trial balance provided, create a classified Balance Sheet, Statement of Retained Earnings, and Income Statement for Equilibrium Riding, Inc., for the year ended December 31, 2013. (These financial statements would be considered "preliminary" because they use unadjusted balances.)
TIP : Create the Income Statement first followed by the Statement of Retained Earnings, and finally the classified Balance Sheet. Follow the formats presented in Exhibits 12, 1, 3, and 2.13.
The following accounts are taken from Equilibrium Riding, Inc., a company that specializes occupational therapy and horseback riding lessons, as of December 31, 2013.
Required :
Using the unadjusted trial balance provided, create a classified Balance Sheet, Statement of Retained Earnings, and Income Statement for Equilibrium Riding, Inc., for the year ended December 31, 2013. (These financial statements would be considered "preliminary" because they use unadjusted balances.)
TIP : Create the Income Statement first followed by the Statement of Retained Earnings, and finally the classified Balance Sheet. Follow the formats presented in Exhibits 12, 1, 3, and 2.13.
Explanation
Verified
Verified
Prepare income statement for E riding, I...
Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
