Question: The adjusted trial balance of Lanza Company at the end of its fiscal year is:
LANZA COMPANY
Adjusted Trial Balance
July 31, 2006
|
No.
|
Account Titles
|
Debits
|
Credits
|
|
101
112
157
|
cash
Accounts Receivable Equipment
|
$ 14,840 8,780 15,900
|
|
|
167
|
Accwnulated Depreciation
|
|
$ 5,400
|
|
201
|
Accounts Payable
|
|
4,220
|
|
208
|
Unearned Rent Revenue
|
|
1,800
|
|
311
|
Common Stock
|
|
20,000
|
|
320
|
Retained Earnings
|
|
25,200
|
|
332
|
Dividends
|
16,000
|
|
|
404
|
Commission Revenue
|
|
67,000
|
|
429
|
Rent Revenue
|
|
6,500
|
|
711
|
Depreciation Expense
|
4,000
|
|
|
720
|
Salaries Expense
|
55,700
|
|
|
732
|
Utilities Expense
|
14,900
|
|
|
|
|
$130,120
|
$130,120
|
1) The adjusted trial balance of Lanza Company at the end of its fiscal year.
2) Prepare an income statement and a retained earnings statement for the year. There were no issuances of stock during the year.
Prepare a classified balance sheet at July 31.