The adjusted trial balance of Hanlon Company at the end of its fiscal year is:
| HANLON COMPANY Don't use plagiarized sources. Get Your Custom Essay on the adjusted trial balance of hanlon company at the end of its fiscal year is 543576 For $10/Page 0nly | |||
| Account Titles | Debits | Credits | |
| 101 | Cash | $14,940 | |
| 112 | Accounts Receivable | 8,780 | |
| 157 | Equipment | 15,900 | |
| 167 | Accumulated Depreciation | $5,400 | |
| 201 | Accounts Payable | 4,220 | |
| 208 | Unearned Rent Revenue | 1,800 | |
| 301 | J. D. Hanlon, Capital | 45,200 | |
| 306 | J. D. Hanlon, Drawing | 14,000 | |
| 404 | Commission Revenue | 65,100 | |
| 429 | Rent Revenue | 6,500 | |
| 711 | Depreciation Expense | 4,000 | |
| 720 | Salaries Expense | 55,700 | |
| 732 | Utilities Expense | 14,900 | |
| $128,220 | $128,220 | ||
Instructions
(a) Prepare an income statement and an owner’s equity statement for the year. Hanlon
did not make any capital investments during the year.
(b) Prepare a classified balance sheet at July 31.
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