Business, 08.10.2020 17:01 townselt3861

The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Accounts Debit Credit
Cash $12,000
Accounts receivable 159,000
Prepaid rent 7,000
Supplies 28,000
Equipment 350,000
Accumulated depreciation $128,000
Accounts payable 12,000
Salaries payable 3,100
Interest payable 1,400
Notes payable (due in two years) 31,000
Common stock 230,000
Retained earnings 140,500
Dividends 27,000
Service revenue 380,000
Salaries expense 180,000
Advertising expense 77,000
Rent expense 15,000
Depreciation expense 33,000
Interest expense 3,000
Utilities expense 35,000
Totals $ 926,000 $ 926,000
Prepare an income statement for China Tea Company for the year ended December 31, 2021:

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The adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Accounts...

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