Refer to PE 4-16. Using the adjusted trial balance prepared in part (2), prepare an income statement
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Refer to PE 4-16. Using the adjusted trial balance prepared in part (2), prepare an income statement for the year.
PE 4-16
Before any adjusting entries were made, the company prepared the following trial balance as of December 31:
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Credit Notes Receivable Prepaid Rent. 216,000 Accounts Payable Unearned Fee Revenue Capital Stock.. Retained Earnings Dividends . Fee Revenue . $ 150,000 244,000 79,000 $1,040,000 Utilities Expense Totals $1,040,000
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Related Book For
Financial Accounting
ISBN: 978-0324645576
10th edition
Authors: W. Steve Albrecht, James D. Stice, Earl K. Stice
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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