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Exercise 4-03 al-a3 The adjusted trial balance columns of the worksheet for DeSousa Company are as follows. DeSousa Company Worksheet (Partial) For the Month Ended April 30, 2019 Adjusted Trial Balance Account Titles Dr. Cr. Cash 10,000 Accounts Receivable 7,840 Prepaid Rent 2,280 Equipment 23,050 Accumulated Depreciation-Equip. 4,921 Notes Payable 5,700 Accounts Payable 4,920 Common Stock 20,000 Retained Earnings 7,960 Dividends 3,650 Service Revenue 15,590 Salaries and Wages Expense 10,840 Rent Expense 760 Depreciation Expense 671 Interest Expense 57 Interest Payable 57 Totals 59,148 59,148

Answer 1

solution: 15590 DESOUSA COMPANY Income Statement For the Month Ended April 30, 2019 Revenues Service revenue Expenses Salaries and wages expense Rent Expense Depreciation expense Interest expense Total expenses Net income 10840 760 671 57 12328 3262 DESOUSA COMPANY Retained Earnings Statement For the Month Ended April 30, 2019 Retained Earnings, April 1 Add : Net income 7960 3262 11222 3650 7572 Less : Dividends Retained Earnings, April 30

DESOUSA COMPANY Balance Sheet April 30, 2019 Assets Current assets Cash Accounts receivable Prepaid rent Total current assets Property, plant, and equipment Equipment Less: Accumulated depreciation Total assets 10000 7840 2280 20120 23050 equipment | 4921 18129 38249 5700 4920 57 Liabilities and Stockholders' Equity Current liabilities Notes payable Accounts payable Interest payable Total current liabilities Stockholders' equity Common stock Retained earnings Total Stockholders' equity Total liabilities and Stockholders' equity 10677 20000 7572 27572 38249