# Answer 1,2,3,4,5,6 Problem 3 (44 points) The following is Sunlight Co. year-end adjusted trial balance dated...

###### Question:

Problem 3 (44 points) The following is Sunlight Co. year-end adjusted trial balance dated December 31, 2018 Sunlight Co. Adjusted Trial Balance at 31 December 2018 Debit Credit $5,700 Cash Accounts Receivable 3,800 2,250 Prepaid Insurance Office Equipment 20.130$ 600 Accumulated Depreciation: Office Equipment Accounts Payable 3,600 16,890 Capital Stock 2,700 Retained Earnings 1,100 Dividends 21,750 Revenue
7,500 1.800 Salaries Expense Utilities Expense Rent Expense Depreciation Expense Income Taxes Expense 1.950 650 600 $45.540$45.540 Instructions: Using Adjusted Trial Balance above: (1) Prepare the necessary year-end closing entries. Date Account Tities and Explanation Credit (2) Prepare an Income Statement for the year ended December 31, 2018 (3) Prepare a Statement of Retained Earnings for the year ended December 31, 2018 (4) Prepare a Balance Sheet dated December 31, 2018 (5) Does the company appear to be liquid? Explain. (6) Has the company been profitable in the past? Explain. www.euruni.edu
Problem 3 (44 points) The following is Sunlight Co. year-end adjusted trial balance dated December 31, 2018. Sunlight Co. Adjusted Trial Balance at 31 December 2018 Debit Credit Cash $5,700 Accounts Receivable Receivable 3,800 Prepaid Insurance 2,250 Office Equipment 20,130 Accumulated Depreciation: Office Equipment$ 600 Accounts Payable 3,600 Capital Stock 16,890 Retained Earnings 2,700 Dividends 1,100 Revenue 21,750

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