18 Part 2 of 3 Required information [The following information applies to the questions displayed below.]...
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18 Part 2 of 3 Required information [The following information applies to the questions displayed below.] Tunstall, Inc., a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period on December 31: 9 points Tunstall, Inc. Unadjusted Trial Balance for the Year Ended December 31 eBook Print References Cash Accounts receivable. Supplies Prepaid insurance Service trucks Accumulated depreciation Other assets Debit Credit 42,000 11,600 900 800 19,000 9,200 8,300 3,000 Accounts payable. Wages payable Income taxes payable Notes payable, long-term 17,000 Common stock (5,000 shares outstanding) 400 Additional paid-in capital 19,000 Retained earnings 6,000. Service revenue 61,360 Mages expense 16,200 Remaining expenses (not detailed; excludes income tax) 17,160 Income tax expense Totals 115,960 115,960 2-a. Prepare an income statement that include the effects of the preceding five transactions. (Round "Earnings per share" to 2 decimal places.) TUNSTALL, INC. Income Statement For the Current Year Ended December 31 Other operating expenses Remaining expenses (not detailed) Insurance expense Depreciation expense Income tax expense Income tax expense Common stock Earnings per share Required information 2-b. Prepare a classified balance sheet that include the effects of the preceding five transactions. (Amounts to be deducted should be indicated by a minus sign.) Assets Current assets TUNSTALL, INC. Balance Sheet For the Current Year Ended December 31 0 $ 0 $ $ 0 18 Part 2 of 3 Required information [The following information applies to the questions displayed below.] Tunstall, Inc., a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period on December 31: 9 points Tunstall, Inc. Unadjusted Trial Balance for the Year Ended December 31 eBook Print References Cash Accounts receivable. Supplies Prepaid insurance Service trucks Accumulated depreciation Other assets Debit Credit 42,000 11,600 900 800 19,000 9,200 8,300 3,000 Accounts payable. Wages payable Income taxes payable Notes payable, long-term 17,000 Common stock (5,000 shares outstanding) 400 Additional paid-in capital 19,000 Retained earnings 6,000. Service revenue 61,360 Mages expense 16,200 Remaining expenses (not detailed; excludes income tax) 17,160 Income tax expense Totals 115,960 115,960 2-a. Prepare an income statement that include the effects of the preceding five transactions. (Round "Earnings per share" to 2 decimal places.) TUNSTALL, INC. Income Statement For the Current Year Ended December 31 Other operating expenses Remaining expenses (not detailed) Insurance expense Depreciation expense Income tax expense Income tax expense Common stock Earnings per share Required information 2-b. Prepare a classified balance sheet that include the effects of the preceding five transactions. (Amounts to be deducted should be indicated by a minus sign.) Assets Current assets TUNSTALL, INC. Balance Sheet For the Current Year Ended December 31 0 $ 0 $ $ 0
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