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Adjustment data at December 31, 2019, include the following: a) On January 1, 2019 two years of rent was paid ($100 a month). b) The
Adjustment data at December 31, 2019, include the following: | |||||||||||||||
a) On January 1, 2019 two years of rent was paid ($100 a month). | |||||||||||||||
b) The amount of Office Supplies left at December 31, 2019 is only $200. | |||||||||||||||
c) The Furniture was purchased on January 1, 2017 and is expected to last 10 years. Yearly Depreciation Expense is $5,000 | |||||||||||||||
d) A customer put $5,000 deposit down (in advance payments by the customer for the services to be received), and so far has only received 50% of the services. (50% of the obligations are fulfilled by the end of December 31,2019!) | |||||||||||||||
Required: | |||||||||||||||
1: Prepare the Above Trial balance worksheet (be sure to include formulas to add/subtract cells across rows as well as to add cells down columns). | |||||||||||||||
2: In a separate tab: Create the Income Statement, Statement of Changes in Retained Earnings and Balance Sheet. Be sure to create formulas that link to cells in the Trial Balance worksheet. | |||||||||||||||
3: In a separate tab: prepare the closing entries. | |||||||||||||||
4: In a separate tab: prepare the post-closing trial balance |
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