5.4 Chapter Appendix

Final Trial Balance and Financial Statements

Figure 5.7 Appendix A

Appendix A: Lawndale Company Final Trial Balance

Figure 5.8 Appendix B1

Appendix B: Lawndale Company Statement of Retained Earnings

1In a subsequent chapter, the reporting of noncurrent assets with finite lives will be covered in detail. The cost of such assets is subject to depreciation over their estimated useful lives so that a net book value is reported that falls each period. Therefore, the $40,000 is used here simply to illustrate the placement of the balances.

This is a derivative of Financial Accounting by a publisher who has requested that they and the original author not receive attribution, which was originally released and is used under CC BY-NC-SA. This work, unless otherwise expressly stated, is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.