Prepare the following adjusting entries in the General Journal and post to the General Ledger. Record Depreciation
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Question:
Prepare the following adjusting entries in the General Journal and post to the General Ledger.
- Record Depreciation on Equipment, $1,000.
- Record Depreciation on Vehicle, $250.
- Supplies on hand at end of period, $2,000.
- Unearned Revenue earned, $20,000.
- Billed customers for services, $15,000.
Prepare the Income Statement.
Prepare the Statement of Shareholders Equity.
Prepare the Balance Sheet.
Discuss the profitability and liquidity of the company.
Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
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