(Solved): Exercise 4-2 (Algo) Extending accounts to financial statement columns LO P1 The Adjusted Trial Bala ...

Exercise 4-2 (Algo) Extending accounts to financial statement columns LO P1 The Adjusted Trial Balance columns of a work sheet for Planta Company follow. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period. PLANTA COMPANY Work Sheet Adjusted Trial Balance Income Statement Account Number Balance Sheet and Statement of Owner's Equity Account Title Debit Credit Debit Credit Debit Credit 101 4,700 106 20,539 153 41,500 154 $ 16,683 16.683 183 30,000 201 10,951 10.951 209 2,505 2.505 236 1,905 1,905 301 62,304 62,304 302 14,326 403 79,000 79,000 611 5,561 622 36,972 640 12,008 677 7,742 62,283 79,000 111,065 94,348 62,283 $ 79,000 $ 111,065 $ 94,348 Cash Accounts receivable Trucks Accumulated depreciation-Trucks Land Accounts payable Salaries payable Unearned revenue B. Planta, Capital B. Planta, Withdrawals Plumbing revenue Depreciation expense--Trucks Salaries expense Rent expense Miscellaneous expenses Totals Net income Totals $ 4,700 20.539 41,500 30,000 14,326 5,561 36,972 12,008 7,742 $ 173,348 $ 173,348 S $ $ $ $