60.1K

Verified Solution

Link Copied!

2. Details about the account balances and general journal information of Maxwell Company for 2019 are given below. Beginning account balances for 2019 Cash Land Supplies Unearned Revenue Common Stock Retained Earnings Amount $ 150,000 20,000 50,000 100,000 100,000 20,000 The following are the general journal information of Maxwell Company for 2019. Maxwell Company General Journal, 2019 Credit Event 1. Account Titles Cash Debit 30,000 Bank Loan 30,000 The following are the general journal information of Maxwell Company for 2019. Maxwell Company General Journal, 2019 Event 1. Account Titles Cash Credit Debit 30,000 Bank Loan 30,000 2. Office Equipment Cash 15,000 15,000 Account Receivable Service Revenue 35,000 35,000 4. Cash 15,000 Page 3 of 4 Account Receivable 15,000 5. Dividends 5,000 Cash 5.000 6. Prepaid Rent 12,000 Cash 12,000 7. 50,000 Unearned Revenue Service Revenue 50,000 Focus Account Receivable 15,000 5. Dividends 5,000 Cash 5,000 6. 6. Prepaid Rent 12,000 Cash 12,000 7. Uneamed Revenue Service Revenue 50,000 50,000 8. Rent Expense 6,000 Prepaid Rent 6,000 9. Supplies Expense 10,000 Supplies 10.000 Required: [ 13 Marks) b. Prepare T- Account (5 Marks) c. Prepare Trial Balance (3 Marks] d. Prepare Income Statement [2 Marks] e. Prepare Balance Sheet [3 Marks)

Answer & Explanation Solved by verified expert

See Answer