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3 years ago

The following table contains financial information for Trumpeter Inc. before closing entries:

Business

1 answer:

Diano4ka-milaya [45]3 years ago

5 0

Answer:

Please see details below:

Explanation:

Net Income

Sales $29.700

Salaries Expenses -$4.900

Miscellaneous Expenses -$20.300

=================================

Net Income $4.500

Balance Sheets

Assets

Cash $12.200

Prepaid Rent $3.800

Equipment $66.600

Supplies $6.200

TOTAL ASSETS $88.800

Liabilities

Accounts Payable $4.200

TOTAL LIABILITIES $4.200

Equity

Common Stock $67.400

Retained Earnings $17.200

TOTAL EQUITY $84.600

Dividends $3.600

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3 years ago

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