Financial Statements Turtle Company has prepared the following adjusted Trial balance for the year ended December...
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Financial Statements Turtle Company has prepared the following adjusted Trial balance for the year ended December 31, 2019: Debit Credit $ 1,700 2,100 1,800 5,400 Cash Accounts Receivable (net) Inventory Equipment Accumulated Depreciation Accounts Payable Salaries Payable Income Taxes Payable Common Stock (400 shares) Retained Earnings Dividends $ 1,700 2,300 300 360 3,200 2,500 200 Sales Revenue Cost of Goods Sold Selling Expenses Administrative Expenses Income Tax Expense Totals 7,900 4,300 1,800 600 360 $18,260 $18,260 Required: For 2019, prepare in proper form: (1) an income statement, (2) a retained earnings statement, (3) an ending balance sheet, and (4) closing entries. Financial Statements Turtle Company has prepared the following adjusted Trial balance for the year ended December 31, 2019: Debit Credit $ 1,700 2,100 1,800 5,400 Cash Accounts Receivable (net) Inventory Equipment Accumulated Depreciation Accounts Payable Salaries Payable Income Taxes Payable Common Stock (400 shares) Retained Earnings Dividends $ 1,700 2,300 300 360 3,200 2,500 200 Sales Revenue Cost of Goods Sold Selling Expenses Administrative Expenses Income Tax Expense Totals 7,900 4,300 1,800 600 360 $18,260 $18,260 Required: For 2019, prepare in proper form: (1) an income statement, (2) a retained earnings statement, (3) an ending balance sheet, and (4) closing entries.
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