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2. May applies to the questions displayed below.) On January 1, 2021, the Nick Foles Philly Special Company (the NFPS Company) had the following balances
2. May applies to the questions displayed below.) On January 1, 2021, the Nick Foles Philly Special Company (the NFPS Company) had the following balances in its accounts: Cash, $15,000; Supplies, $8,300; Land, $63,000; Deferred Revenue, $5,300; Common Stock $53,000, and Retained Earnings, $28,000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $23,000. 20 Provide services to customers for cash, $38,000, and on account, $33,000. 3. August 31 Pay salaries to employees for work in Year 1, $26,000. 4. October 1 Purchase rental space for one year, $15,000. 5. November 17 Purchase supplies on account, $25,000. 6. December 30 Pay dividends, $2,300. The following information is available on December 31, 2021: 1. Employees are owed an additional $4,300 in salaries. 2. Three months of the rental space has expired. 3. Supplies of $5,300 remain on hand. 4. All of the services associated with the beginning deferred revenue have been performed Prepare an adjusted trial balance. Adjusted Trial Balance December 31, Year 1 Accounts Debit Credit Totals $ 0 $
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