The following accounts are taken from Buck Up! Inc., a company that specializes in horse breaking services

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The following accounts are taken from Buck Up! Inc., a company that specializes in horse breaking services and rodeo lessons, as of December 31, 2014.

BUCK UP! INC. Unadjusted Trial Balance At December 31, 2014 Account Name Debits Credits $ 59,750 Cash Accounts Receivabl

Required
Using the unadjusted trial balance provided, create a classified balance sheet, statement of retained earnings, and income statement for Buck Up! Inc., for the year ended December 31, 2014. (These financial statements would be considered "preliminary" because they use unadjusted balances.)
Create the income statement first, followed by the statement of retained earnings, and finally the classified balance sheet. Follow the formats presented in Exhibits 1.2, 1.3, and 2.13.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Related Book For  book-img-for-question

Fundamentals of Financial Accounting

ISBN: 978-1259103292

4th Canadian edition

Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh

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