15 16 17 18 19 20 21 22 23 24 4 Use the Adjusted Tral Balance numbers to complete the Income Statement, Statement of Retained Earnings, Balsace Sheet, and Statement of Cash Floo For purposes of the Income Statement, prepare using the multiple step format and mune that Rent Reventie, my Uncalized Holding Guns/Lones, Interest Expense. Interest Revenue and any other Gains/Losses se NOT part of the major central ongoing operations of the company Link you financial statements to your Adjusted Tol Balance. Use the Income Statement and Balance Sheet to furush the partially completed Statement of Cash Flow Since this is ABC's first year of operations, several line items on the Statement of Cash Flows have already been applied toys If necessary, review financial statement prepacson in Chapters 4 and 5 of your textbook for a quick refreshet. Plan on ug your knowledge pune in completing Chapter 21 to help with the preparation of the Statement of Cash Flow Additionally, since this is ABC Corporation's first year of operations, the adjusted trial balance for all current assets and liabilities represents the change during the year for Statement of Cash Flows analysis purposes dial land 11 ' ' III III Custom 25 Wrap Text E E Merge & Center ilil HI $ % & Conditic Formatti Font Alignment Number A B 1 2 3 4 ABC Corporation Adjusted Trial Balance December 31, 2014 Credit $ Debit 822,729 167,000 $ 23,000 190,300 25,000 75,000 350,000 16,400 181,385 75,000 150,000 $ 4.400 5 6 Cash 7 Short term investments 8 Fair value adjustment (Trading) 9 Accounts receivable 10 Allowance for doubtful accounts 11 Inventory 12 Purchases 13 Prepaid insurance 14 LT Debt) investments (HTM) 15 Land 16 Building 17 Accumulated depreciation building 18 Equipment 19 Accumulated depreciation equpment 20 Patent 21 Accounts payable 22 Notes payable 23 Income taxes pavable 24 Unearned rent revenue 25 Bonds Payable 26 Premium on Bonds Pavable 27 Common stock 28 PIC In Excess of Par-Common Stock 29 Retained eamang Unadjusted Trial Balance 60,000 22.000 30,000 75,240 235,000 63,800 24,000 800,000 56,860 101.000 34,000 Adjustments Needed Adjusting Journal Entries O HA AC 323 Comprehensive Problem Soring 2021 Kayla Terry. ge Layout Formulas Data Review View Help amond 11 SE Custom ' ' a A 2 Wrap Text Merge & Center TU $ % & Conditional For Formatting to Styl Font Alignment Number for B files. 49,000 41,000 892945 Prob. 8,400 80,350 21,700 Prob.. Prob... use. Prob 29 Retained earnings 30 Treasury stock 31 Dividends 32 Sales Revenue 33 Advertising expense 34 Wages espense 35 Office espense 36 Amortization espense 37 Depreciation expense 38 Utilities expense 39 Insurance espease 40 Income taxes expense 41 Lease on Vehicle 42 Rent Revenue 43 Wages Payable 44 Interest Expense 45 Lower of cost 46 Completetion and Slapping cost 47 Bad debt expense 48 Additional paid in capital 19 Pensaon Expense 50 Pension related assets/libility 51 Impartment Loss 52 Market Value 53 Net lesible value 54 Interest Revende 55 Employee stock option 56 Accumulated depreciation 57 Lease liability Unadjusted Trial Balance 35,159 31,000 82000 63,800 43,796 12.000 12.750 1.175 75,000 16,500 25,000 21,000 40,000 12,000 7500 110.000 93,500 19 561 10.000 8,759 $ 33,293 Adjustments Needed Adjusting Journal Entries Close 11231-14 arch O HI - Prob. 43,796 12,000 12,750 Prob 1,175 75,000 16,500 cob... 25,000 21,000 Sb... 41 Lesse on Velucle 42 Rent Revenue 43 Wages Payable 44 Interest Expense 45 Lower of cost 46 Completetion and Shipping cost 47 Bad debt expense 48 Additional paid in capital 49 Pension Expense 50 Pension related assets/liability 51 Impairment Loss 52 Macket Value 53 Net resiable value 54 Interest Revenue 55 Employee stock option 56 Accumulated depreciation 57 Lease liability 58 Interest Payable 59 Employee Compensation 60 Interest on notes payable 61 Realized holding loss income 62 63 40,000 12,000 7,500 110,000 se... 93,500 19,561 10,000 8,759 33,293 $ $ 51,329 $ $ 10,000 $ 1,175 $ 8,000 $ 2,787,694 $ 2,787,694 64 ose Unadjusted Trial Balance Adjustments Needed Adjusting Journal Entries 12-31-14 T BE