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2) Based on the data below, complete an Income Statement, Statement of Owner's Equity, and a Balance Sheet for Poe, Inc.: Cash = $65,000 Accounts
2) Based on the data below, complete an Income Statement, Statement of Owner's Equity, and a Balance Sheet for Poe, Inc.: Cash = $65,000 Accounts Receivable = $25,000 Equipment = $165,000 Accounts Payable = $20,000 Poe, Capital = $115,000 Poe, Drawing = $5000 Service Fees = $160,000 Rent Expense = $25,000 Utilities Expense = $10,000 3) Based on the information below, make the appropriate adjusting journal entries on December 31, 2021: a) Beginning Supplies = $4100 Ending Supplies = $3200 b) Beginning Prepaid Insurance = $2100 Ending Prepaid Insurance = $1700 c) Cost of Equipment = $6400 Depreciation Rate = 5% d) Accrued Wages at Year-End = $7500 Account Numbers: Supplies: 105 Prepaid Insurance: 111 Equipment: 114 Accumulated Depreciation Equipment: 114.5 Wages Payable: 205 Supplies Expense: 514 Insurance Expense: 515 Wage Expense: 516 Depreciation Expense - Equipment: 518
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