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The 2012 year-end adjusted balances taken from the general ledger of Cooperstown Services Answer

The 2012 year-end adjusted balances taken from the general ledger of Cooperstown Services Answer

The 2012 year-end adjusted balances taken from the general ledger of Cooperstown Services Answer

The 2012 year-end adjusted balances taken from the general ledger of Cooperstown Services Answer

The 2012 year-end adjusted balances taken from the general ledger of Cooperstown Services Answer

The 2012 year-end adjusted balances taken from the general ledger of Cooperstown Services, Inc. are listed below in general ledger order Attachment
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 statement. Note that Cooperstown is a service company so there is no cost of goods sold in its chart of accounts. Also, assume that all the liabilities are current liabilities. Keep in mind that you should not report any accounts without balances in your statements.

Coopertown Suppliers, Inc.
DR CR
Cash $12,950
Accounts receivable 28,150
Supplies 8,400
Prepaid insurance 9,500
Land 1,15,000
Buildings 3,60,000
Equipment 2,60,000
Accumulated depreciation $2,39,900
Accounts payable 35,300
Salaries payable 7,300
Taxes payable

Common stock 5,200

31,500
Additional paid-in capital – Common 15,400

Retained earnings 4,27,600
Dividends 25,400
Service revenue 4,75,000
Salaries expense 3,35,600
Depreciation expense 25,100
Supplies expense 12,950
Insurance expense 8,200
Miscellaneous expense 30,850
Utilities expense 5,100
Total $12,37,200 $12,37,200

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2012