The ADJUSTED Trial Balance of Practice Contractors for the year ended December 31, 2020, follows: Practice...
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The ADJUSTED Trial Balance of Practice Contractors for the year ended December 31, 2020, follows: Practice Contractors ADJUSTED Trial Balance December 31, 2020 Account Title Debit Credit Cash 10,000 Office supplies Prepaid insurance Equipment Accumulated depreciation-Equipment Accounts payable Wages payable Unearned service revenue 1,100 2,500 40,000 10,000 8,000 1,200 14,000 Сapital 33,000 Withdrawals 6,000 Repair service revenue Wages expense Rent expense Depreciation expense Office supplies expense Utilities expense Insurance expense 75,000 50,000 12,000 10,000 3,600 3,600 2400 S 141,200 S 141,200 Total Required: Based on the adjusted account balances listed above, complete the following: a. Income Statement b. Sulement of Owner's Equity (Note: all owner investements were made during 2020) c. Balance Sheet Remember: All sadijustments have already been made. The ADJUSTED Trial Balance of Practice Contractors for the year ended December 31, 2020, follows: Practice Contractors ADJUSTED Trial Balance December 31, 2020 Account Title Debit Credit Cash 10,000 Office supplies Prepaid insurance Equipment Accumulated depreciation-Equipment Accounts payable Wages payable Unearned service revenue 1,100 2,500 40,000 10,000 8,000 1,200 14,000 Сapital 33,000 Withdrawals 6,000 Repair service revenue Wages expense Rent expense Depreciation expense Office supplies expense Utilities expense Insurance expense 75,000 50,000 12,000 10,000 3,600 3,600 2400 S 141,200 S 141,200 Total Required: Based on the adjusted account balances listed above, complete the following: a. Income Statement b. Sulement of Owner's Equity (Note: all owner investements were made during 2020) c. Balance Sheet Remember: All sadijustments have already been made.
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A PRACTICE CONTRACTORS INCOME STATEMENT for the year ended 31st December 2020 Parti... View the full answer
Related Book For
Managerial Accounting Tools for Business Decision Making
ISBN: 9781119403999
5th Canadian edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
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