Novak Design was founded by Thomas Grant in January 2016. Presented below is the adjusted trial...
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Novak Design was founded by Thomas Grant in January 2016. Presented below is the adjusted trial balance as of December 31, 2025. Novak Design Adjusted Trial Balance December 31, 2025 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Interest Payable Notes Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Insurance Expense Interest Expense Depreciation Expense Debit $12,420 22,920 6,420 3,920 61,420 12,720 1.142 530 8.000 Credit $36,420 6,420 180 6,000 7,020 1,592 11.420 4,920 62,920 Depreciation Expense Supplies Expense Rent Expense 8,000 3,400 4,000 $136,892 $136,892 Prepare an income statement for the year ending December 31, 2025. (Enter loss using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Novak Design was founded by Thomas Grant in January 2016. Presented below is the adjusted trial balance as of December 31, 2025. Novak Design Adjusted Trial Balance December 31, 2025 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Interest Payable Notes Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Insurance Expense Interest Expense Depreciation Expense Debit $12,420 22,920 6,420 3,920 61,420 12,720 1.142 530 8.000 Credit $36,420 6,420 180 6,000 7,020 1,592 11.420 4,920 62,920 Depreciation Expense Supplies Expense Rent Expense 8,000 3,400 4,000 $136,892 $136,892 Prepare an income statement for the year ending December 31, 2025. (Enter loss using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).)
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Related Book For
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
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