1 The accounts that represent the resources of the company are the Adjusted Trial Balance for Certified Answering Service, Inc. at August 31, 2017 This is the month-end for Certified. Prepare the financial sta month-end for Certiftied. Prepare the financial statements in good forrn Glendale Answering Service, Inc Adjusted Trial Balance August 31, 2017 $ 12,800 2,750 Cash 250 Allowance for uncollectable accounts Prepaid Insurance Office Equipment 200 3,400 Accum Dep: Office Equipment Accounts Payable Unearned Revenue Common Stock, August 1, 2017 Retained Eamings, August 1, 2017 $ 600 1,650 1,600 10,530 2,870 400 6,100 Answering Service Revenue Wages Expense 3,020 480 450 100 Office Supplies Expense Depreciation Exp: Office Equipment Income Taxes Expense 23,600 S 23,600 What is the primary purpose of financial accounting? a. Determine the amount of tax liability owed to the government b. Communicate business transactions to internal management. c. Measure business transactions and communicate those measures to external users to make decisions d.. Measure the profitability of the company in order to assist employees with making decisions. 3. Steve's BarBQ borrowed $10,000 to start the business on October 1, 2016. The interest and principal were to be paid in March 2017, The interest rate is 7% annually. what entry was made at the end of the year- December 31, 2016? Make the entry in proper form. 4. At the beginning of the year, Southside Company assets were $590,000 and Stockholders' Equity was $275,000. During the year, Assets increased $75,000 and Liabilities decreased $40,000. What was S/E at the end of the year 5. Looking at the Disney balance sheet, prove that the accounting equation works for 2016. This would be showing that assets equal liabilities plus stockholders' equity. 3. Uneaned revenues are recorded by companies that a. Receive money at the time the performance of a service is complete b. Receive money in advance of the performance of a service c. Pay money at the time the performance of a service is complete d. Pay money in advance of the performance of a service