Flynn Design was founded by Kevin Flynn in January 2014. Presented below is the adjusted trial balance
Question:
Flynn Design was founded by Kevin Flynn in January 2014. Presented below is the adjusted trial balance as of December 31, 2019.
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a. Prepare an income statement and a retained earnings statement for the year ending December 31, 2019, and an unclassified statement of financial position at December 31.
b. Answer the following questions.
1. If the note has been outstanding 6 months, what is the annual interest rate on that note?
2. If the company paid €17,500 in salaries and wages in 2019, what was the balance in Salaries and Wages Payable on December 31, 2018?
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a FLYNN DESIGN Income Statement For the Year Ended December 31 2019 Revenues Service revenue 58500 E...View the full answer
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Related Book For 
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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