ABC Corporation Adjusted Trial Balance December 31, 20xx Debit Credit 110 Cash $1,644,311 120 Accounts Receivable 3,263,113 125 Allowance for Doubful Accounts 100,600 130 Inventory 619,031 140 Other Current Assets 479,585 150 Land 957,748 160 Equipment 2,543,131 161 Accumulated Depreciation Equipment 586,550 170 Intangible Assets 1,371,924 210 Accounts Payable 616,370 220 Unearned Revenue 1,631,760 230 Wages Payable 178,322 310 Common Stock, $1 par (1,000,000 shares aurthorized, 504,000 Shares Issued) 500,000 311 Additional Paid In Capital (Excess of Issue over Par C S 1,613,146 320 Retained Earnings 5,595,017 330 Treasury Stock (4,000 shares purchased for $25 share) 100,000 340 Cash Dividends 2,292,675 410 Sales 14,959,658 510 Cost of Goods Sold 8,372,158 520 Wages Expense 1,907,823 530 Rent Exp 970,469 540 Depreciation Exp Equipment 311,907 550 Utilities Exp 158,172 560 Misc Exp 808,816 570 Gain on Disposal of Equipment 19,440 Total $ 25,800,863 $ 25,800,863 Directions Prepare financial statements for the year ended of December 31, 20XX You are only responsible for preparing the Income Statement, Statement of Retained Earnings, and Classified Balance Sheet Additional Instructions ABC Corporation Income Statement For the year ended December 31, 20XX Enter data in yellow shaded cells only XXXX Do not reformat sheet (i e inserting rows, etc ) Accounting period is January December Reporting period is January December Income Statement (Multi Step Presentation) Formatting exceptions Do not separate Selling and Administrative Expenses Do not indent line items See Chapter 6 ABC Corporation Statement of Retained Earnings For the year ended December 31, 20XX Statement of Retaining Earnings Do not indent line items See Chapter 13 Increase in retained earnings Balance Sheet (Classified) Show contra acct balances in brackets ( ) Stockholder's Equity (Use Method 2 from text) Do not indent line items See Chapter 6 13 ABC Corporation Balance Sheet December 31, 20XX LIABILITIES ASSETS SHAREHOLDER'S EQUITY

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ABC Corporation Adjusted Trial Balance December 31, 20xx Debit Credit 110 Cash $1,644,311 120 Accounts Receivable 3,263,113 125 Allowance for Doubful Accounts 100,600 130 Inventory

ABC Corporation
Adjusted Trial Balance
December 31, 20xx
		Debit	Credit
110	Cash	$1,644,311
120	Accounts Receivable	3,263,113
125	Allowance for Doubful Accounts		100,600
130	Inventory	619,031
140	Other Current Assets	479,585
150	Land	957,748
160	Equipment	2,543,131
161	Accumulated Depreciation - Equipment		586,550
170	Intangible Assets	1,371,924
210	Accounts Payable		616,370
220	Unearned Revenue		1,631,760
230	Wages Payable		178,322
310	Common Stock, $1 par (1,000,000 shares aurthorized, 504,000 Shares Issued)		500,000
311	Additional Paid In Capital (Excess of Issue over Par-C/S_		1,613,146
320	Retained Earnings		5,595,017
330	Treasury Stock (4,000 shares purchased for $25/share)	100,000
340	Cash Dividends	2,292,675
410	Sales		14,959,658
510	Cost of Goods Sold	8,372,158
520	Wages Expense	1,907,823
530	Rent Exp	970,469
540	Depreciation Exp - Equipment	311,907
550	Utilities Exp	158,172
560	Misc Exp	808,816
570	Gain on Disposal of Equipment		19,440

	Total	$ 25,800,863	$ 25,800,863


Directions:

Prepare financial statements for the year ended of December 31, 20XX. You are only responsible for preparing the Income Statement, Statement of Retained Earnings, and Classified Balance Sheet.

Additional Instructions ABC Corporation Income Statement For the year ended December 31, 20XX Enter data in yellow shaded cells only. XXXX Do not reformat sheet (i.e.inserting rows, etc.) Accounting period is January - December Reporting period is January - December Income Statement: (Multi-Step Presentation) Formatting exceptions: Do not separate Selling and Administrative Expenses Do not indent line items See Chapter 6 ABC Corporation Statement of Retained Earnings For the year ended December 31, 20XX Statement of Retaining Earnings Do not indent line items See Chapter 13 Increase in retained earnings Balance Sheet: (Classified) Show contra acct balances in brackets ( ) Stockholder's Equity (Use Method 2 from text) Do not indent line items See Chapter 6 & 13 ABC Corporation Balance Sheet December 31, 20XX LIABILITIES ASSETS SHAREHOLDER'S EQUITY