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2. (10 marks) Rocky Views Tour Company has hired you to create their financial statements for the year ended December 31, 2021. Using the
2. (10 marks) Rocky Views Tour Company has hired you to create their financial statements for the year ended December 31, 2021. Using the following information, create a balance sheet and a Statement of Comprehensive Income for 2021. Tour Service Revenue $ 32,800.00 Salaries $ 17,000.00 Advertising $ 5,000.00 Fuel $ 2,000.00 Cash $ 15,500.00 Accounts Receivable $ 4,500.00 Accounts Payable $ 4,000.00 Salaries Payable $ 1,000.00 Bank Loan $ 20,000.00 Dividends $ 1,000.00 Interest $ 1,200.00 2020 Ending UCC of Bus $ 40,000.00 Additional Information: In 2010, the company's owner contributed $32,660 to start the company. ECON 457 Assignment 1 Fall 2022 The corporate tax rate is 10% In 2020, Rocky Views purchased security cameras and equipment for their bus for $5,000. They do not expect to get any salvage value after using it for 5 years. They depreciate it using the straight-line method and will not be required to follow the half-year rule in the first year. The bus has a CCA depreciation rate of 10%
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