Question

The adjusted trial balance columns of the worksheet for DeSousa Company are as follows. The owner did not make any additional investments in the business in April.

DESOUSA COMPANY Worksheet (partial) For the Month Ended April 30, 2017
		Adjusted Trial Balance
Account Titles		Dr.		Cr.
Cash		10,000
Accounts Receivable		8,000
Prepaid Rent		2,040
Equipment		22,750
Accumulated Depreciation—Equip.				5,000
Notes Payable (due in 1 year)				5,600
Accounts Payable				4,500
Common Stock				19,390
Retained Earnings				9,000
Dividends		3,800
Service Revenue				15,500
Salaries and Wages Expense		11,000
Rent Expense		750
Depreciation Expense		650
Interest Expense		20
Interest Payable				20
Totals		59,010		59,010​

Prepare a classified balance sheet.

Assets

Liabilities and Stockholders Equity

Answer 1

Accounts receivable	8000
Prepaid rent	2040
Total current asset		20040
non current asset
Equipment	22750
lesS:Accumulated Depreciation—Equip.	(5000)	17750
Total asset		37790
Liabilities and stockholders equity
Accounts payable	5600
Note payable (due in one year)	4500
Interest payable	20
Total current liabilities		10120
stockholders equity
common stock	19390
Retained earning	8280
Total stockholders equtiy		27670
Total liabilities and stockholders equity		37790

**Net income =revenue -expense

= 15500-11000-750-650-20

= 3080

Retained earning at end =beginning+ net income -dividend

   = 9000 [phone]

    = 8280