The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31

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The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company?s year-end reporting date.

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The following year-end adjusting entries are required:a. Depreciation expense for the year on the equipment is $10,000.b. Salaries at year-end should be accrued in the amount of $4,000.

Required:1. Prepare and complete a worksheet similar to Illustration 2A?1.2. Prepare an income statement for 2021 and a balance sheet as of December 31, 2021.

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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Intermediate Accounting

ISBN: 978-1260481952

10th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

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