Requirements:

1) Using the data provided below, prepare the adjusted trial balance for the company in chart

of accounts order. The balance listed for each account is the normal balance for that type of

account.

2) Using the adjusted trial balance, prepare the annual a) single-step income statement, b)

statement of equity, and c) classified balance sheet (in report form). Upload your completed

assignment (as one file for me to print) back into Document Sharing in MyAccountingLab!

The All Inclusive Company

December 31, 2020

During the year, the owner contributed an additional $7,000 into the business!

Account Names Balance Account Names Balance 100,000 65,000 Accounts Payable Accounts Receivable Accumulated Depreciation, Building Accumulated Depreciation, Equipment Accumulated Depreciation, Furniture Advertising Expense Allowance for Bad Debts Bad Debts Expense 80,000 10,000 15,000 Merchandise Inventor Miscellaneous Expense Notes Payable, 4 month Notes Payable, long-term Notes Receivable, current Owner, Capital Owner, Withdrawals Prepaid Insurance Prepaid Rent Refunds Pavable Rent Expense Salaries Expense 8,000 200,000 25,000 287,000 60,000 250,000 15,000 375,000 2,000 Cash Cost of Goods Sold Delivery Expense Depreciation Expense, Building Depreciation Expense, Equipment Depreciation Expense, Furniture Equipment Estimated Contingency Loss/Expense Estimated Contingency Payable Estimated Returns Inventory Estimated Warranty Payable Furniture Insurance Expense Interest Expense Interest Payable Interest Receivable Interest Revenue 6,000 62,000 2,000 4,000 650,000 10,000 5,000Salaries Payable 75,000 12,000 12,000 Sales Discounts Forfeited Sales Revenue Sales Tax Payable Service Revenue 100,000 10,000 Supplies Expense 55,000 Unearned Revenue 33,000 1,000Utilities Expense 2.000Wages Expense 13,000Warranty Expense 11,000 133,000 11,000 Utilities Payable Wages Payable