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3 points Kraft Carpentry Limited reports the following statement of financial position accounts, in alphabdical order: Accounts payable $15,600 Interest payable $ 300 Accounts receivable

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3 points Kraft Carpentry Limited reports the following statement of financial position accounts, in alphabdical order: Accounts payable $15,600 Interest payable $ 300 Accounts receivable 13,100 Inventory 9,200 Bank loan payable 32,000 Prepaid insurance 1,000 Cash 9,350 Retained earnings 21.250 Common shares 20,000 Salaries payable 700 Equipment 30,500 Supplies 2,800 Income tax payable 1,800 Unearned revenue 1,800 Intangible assets 5,000 Vehicles 22,500 Instructions (a) Classify each account as an asset (A), liability (L.), or shareholders' equity (SE) item. (b) Calculate total assets, total liabilities, and total shareholders' equity and prepare Craft Carpentry's accounting equation, (c) Craft Carpentry's retained earnings were $18,000 at the beginning of the year. The company reported revenues of $296,750, expenses of $278,500, and dividends declared of $15,000 during the year. Prepare a calculation that proves how retained earnings of S21,250 at the end of the year were determined. Your answer 3 points Kraft Carpentry Limited reports the following statement of financial position accounts, in alphabdical order: Accounts payable $15,600 Interest payable $ 300 Accounts receivable 13,100 Inventory 9,200 Bank loan payable 32,000 Prepaid insurance 1,000 Cash 9,350 Retained earnings 21.250 Common shares 20,000 Salaries payable 700 Equipment 30,500 Supplies 2,800 Income tax payable 1,800 Unearned revenue 1,800 Intangible assets 5,000 Vehicles 22,500 Instructions (a) Classify each account as an asset (A), liability (L.), or shareholders' equity (SE) item. (b) Calculate total assets, total liabilities, and total shareholders' equity and prepare Craft Carpentry's accounting equation, (c) Craft Carpentry's retained earnings were $18,000 at the beginning of the year. The company reported revenues of $296,750, expenses of $278,500, and dividends declared of $15,000 during the year. Prepare a calculation that proves how retained earnings of $21,250 at the end of the year were determined. Your

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