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5. Prepare a OBJ. 2,3 PR 4-2A Financial statements and closing entries Finders Investigative Services is an investigative services firm that is owned and
5. Prepare a OBJ. 2,3 PR 4-2A Financial statements and closing entries Finders Investigative Services is an investigative services firm that is owned and operated by Stacy Tanner. On June 30, 2013, the end of the fiscal year, the accountant for Finders Investigative Services prepared an end-of-period spreadsheet, a part of which follows: 1 2 3 4 5 6 Account Title A Finders Investigative Services End-of-Period Spreadsheet F For the Year Ended June 30, 2013 G sidon Adjusted Trial Balance Dr. Cr. 7 8 Cash 28,000 9 Accounts Receivable 69,600 10 Supplies 4,600 11 Prepaid Insurance 2,500 WOKE 12 Building 439,500 13 Accumulated Depreciation-Building 44,200 14 Accounts Payable 11,700 15 Salaries Payable 3,000 16 Unearned Rent 2,000 17 Stacy Tanner, Capital 373,800 18 Stacy Tanner, Drawing 12,000 19 Service Fees 718,000 20 Rent Revenue 12,000 21 Salaries Expense 522,100 22 Rent Expense 48,000 23 Supplies Expense 10,800 24 Depreciation Expense-Building 8,750 25 Ubilities Expense 7,150 26 Repairs Expense 3,000 27 Insurance Expense 2,500 28 Miscellaneous Expense 6,200 29 1,164,700 1,164,700 Instructions 1. Prepare an income statement, a statement of owner's equity (no additional investments were made during the year), and a balance sheet. 2. Journalize the entries that were required to close the accounts at June 30. 3. If Stacy Tanner, Capital has instead decreased $30,000 after the closing entries were posted, and the withdrawals remained the same, what would have been the amount of net income or net loss?
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