This paper circulates around the core theme of Flynn Design Agency was founded by Kevin Flynn in January 2009. Presented below is the adjusted trial balance as of December 31, 2010. together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 99. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.
Flynn Design Agency was founded by Kevin Flynn in January 2009.
Presented below is the adjusted trial balance as of December 31, 2010.
Flynn Design Agency
Adjusted Trial Balance
December 31, 2010
Account Titles Dr Cr
Cash $10,000
Accounts Receivable 21,500
Art Supplies 5,000
Prepaid Insurance 2,500
Printing Equipment 60,000
Accumulated Depreciation $35,000
Accounts Payable 8,000
Interest Payable 150
Notes Payable 5,000
Unearned Advertising Revenue 5,600
Salaries Payable 1,300
Common Stock 10,000
Retained Earnings 3,500
Advertising Revenue 58,500
Salaries Expense 12,300
Insurance Expense 850
Interest Expense 500
Depreciation Expense 7,000
Art Supplies Expense 3,400
Rent Expense 4,000
Total $127,050 $127,050
Prepare a single-step income statement for the year ending December 31, 2010.
