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ON TIME CORPORATION Adjusted Trial Balance At May 31, 2016 (millions of dollars) Debit Credit...

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ON TIME CORPORATION Adjusted Trial Balance At May 31, 2016 (millions of dollars) Debit Credit $4,100 $ 6,200 20,800 6,100 3,900 3,600 290 40,500 5,000 1,500 1,500 Accounts Payable Accounts Receivable Accumulated Depreciation Cash Common Stock Depreciation Expense Dividends Equipment Goodwill Income Tax Expense Income Tax Payable Interest Expense Interest Receivable Interest Revenue Notes Payable (long-term) Notes Payable (short-term) Office Expenses Prepaid Rent Rent Expense Repairs and Maintenance Expense Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Service Revenue Supplies Transportation Expense 220 130 140 8,900 900 7,660 1,450 3,700 3,100 16,380 17,800 2,900 51,400 570 13,100 An Ann Req Req 3B Reg 3C Prepare a statement of retained earnings for the y dollars.) ON TIME CORPORATIUN Statement of Retained Earnings (in millions) Beginning Balance, 6/1/2015 Add: Net Income Less: Dividends Ending Balance, 5/31/2016 $ 0 Accounts Receivable 4,100 Interest Receivable Equipment Goodwill Total Current Assets 4,100 Add: Accumulated Depreciation Total Assets X X 0 $

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