Question

The following is account information for Vision Corporation as of December 31, 2011, after all adjustments have been made:
Revenue ................ $20,000
Prepaid rent ............... 1,000
Equipment ............... 12,500
Accumulated depreciation, equipment .... 3,000
Common stock ............. 4,000
Retained earnings ............ 2,500a
Accounts receivable ........... 5,000
Accounts payable ............ 2,000
Salaries expense ............. 2,000
Depreciation expense ........... 1,000
Cash ................. 1,000
Inventory ................ 8,000
Dividends ............... 1,000

Requirement
Prepare a trial balance at December 31, 2011, income statement and statement of changes in shareholders’ equity for the year ended December 31, 2011, and balance sheet at December 31, 2011.



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  • CreatedSeptember 01, 2014
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