Using the attached adjusted trial balance, prepare the income statement, retained earnings statement and balance sheet. Campin Inc.Adjusted Trial Balance12/31/21DebitCreditCash$3,389,000Accounts Receivable$3,100,000Allowance for Doubtful Accounts24491,250Prepaid Insurance$4Inventory$41,262,500Equipment4,500,000Accumulated Depreciation - EquipmentBuildingAccumulated Depreciation - BuildingLand%241,575,000850,000%24292,5001,100,000Accounts PayableSalaries PayableMortgage PayableLong-Term Debt24775,00050,000%241,370,0002,175,000Common Stock - Par$0.01246,000APIC2,994,000Retained Earnings265,000Sales Revenue%249,825,000COGS3,937,500Salary Expense616,000Bad Debt ExpenseInsurance ExpenseDepreciation Expense - EquipmentDepreciation Expense - BuildingInterest Expense - MortgageInterest Expense - Long-Term Debt481,250100,000225,000$442,50040,000175,00019,818,7502419,818,750%24

Name: Using the attached adjusted trial balance, prepare the income statemen
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Description: Using the attached adjusted trial balance, prepare the income statement, retained earnings statement and balance sheet. Campin Inc.Adjusted Trial Balance12/31/21DebitCreditCash$3,389,000Accounts Receivable$3,100,000Allowance for Doubtful Accounts2449

Formula: Net income = Total Revenues - Total Expenses

Answered: Campin Inc. Adjusted Trial Balance…

Business

Accounting

Campin Inc. Adjusted Trial Balance 12/31/21 Debit Credit Cash 24 3,389,000 Accounts Receivable $4 3,100,000 Allowance for Doubtful Accounts 491,250 Prepaid Insurance Inver ton 1. 26? 500 %24

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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