The unadjusted trial balance of Fleming Investment Advisers at December 31, 2018, follows: Adjustment data at December

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The unadjusted trial balance of Fleming Investment Advisers at December 31, 2018, follows:
FLEMING INVESTMENT ADVISERS Unadjusted Trial Balance December 31, 2018 Balance Debit Credit Account Title $ 25,000 Cash

Adjustment data at December 31, 2018:
a. Unearned Revenue earned during the year, $700.
b. Office Supplies on hand, $3,000.
c. Depreciation for the year, $3,000.
d. Accrued Salaries Expense, $4,500.
e. Accrued Service Revenue, $9,000.
Requirements
1. Prepare a worksheet for Fleming Investment Advisers at December 31, 2018.
2. Prepare the income statement, the statement of retained earnings, and the classified balance sheet in account format.
3. Prepare closing entries.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Horngrens Financial And Managerial Accounting The Financial Chapters

ISBN: 9780134486840

6th Edition

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura

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