Answer Happy

Prepare the financial statements for True Consulting Corporation as of July 31 in the space below. You will only be preparing the income statement, statement of retained earnings, and the balance sheet. The statement of cash flows is a required financial statement, but is not required for this case study. True Consulting Corporation Adjusted Trial Balance July 31 Requirement 87: 13.300 Cash Supples Prepare the financial statements for True Consulting Corporation as of July 31 in the space below You will only be preparing the income statement, statement of retained earnings, and the balance sheet The statement of cash flows is a required financial statement, but is not required for this case study. 600 800 Prepaid Rent Equipment 8,000 True Consulting Corpontin Mme Stat True Consufug Corporation State Tru Ensuring C Accumulated Depreciation-Equipment 100 of Retained Earnings For the Month Ending July 21 Accounts Payable For the Month Ending July 3 6,500 Income Tax Payable 1,200 Revenues Common Stock 15,000 Service Revenue 2,100 Retained Earnings Dividends Expenses 700 Rent Experse Service Revenue 7,900 Wages Expense Repairs & Maintenance Expense Wages Expense 1750 Supples Expense Rent Expense 400 Repairs & Maintenance Expense 350 Depreciation Expense Income Tax Expanse Total Expenses Net Income Supples Expense 1400 100 Depreciation Expense Insurance Tax Expense 1200 30700 30700 Requirement #8: tequirement #10: Prepare the closing entries at July 31 in the General Journal below. Prepare a post-closing trial balance as of July 31 in the space below. General Journal Date Description (Account Name Debit Credit True Consulting Corporation Post-Closing Trial Balance July 31 1 Requirement # Post the closing entries to the General Ledger T-accounts and compute ending balances Just add to the adjusted balances already listed. and Eags, July 1 Add Net Income Sub Less Duend Retained Earrings, Jay 31 Balance Sheet July 21 Assets Cash Accounts Receivable Sures Prepaid Ret Equprient Less Accu Dep Toby A Labbes Accounts Payable come Tax Payable Total Liabdes Stockholders' Equity Common Stock Retained Earnings Tots Sockholders Equity To Liband Stockholders' Equity D 0 C |||||