Question
At the end of the fiscal year, December 31, 2021, the following account balances were provided by Acme Inc.: Accounts Payable: $2,300 Accounts Receivable: $1,800
At the end of the fiscal year, December 31, 2021, the following account balances were provided by Acme Inc.:
Accounts Payable: $2,300
Accounts Receivable: $1,800
Advertising Expense: $400
Cash: $3,200
Common Stock: $5,000
Equipment: $8,000
Insurance Expense: $150
Notes Payable: $4,000
Rent Expense: $1,000
Retained Earnings: $3,500
Salaries Expense: $2,200
Service Revenue: $20,000
Supplies Expense: $350
Wages Payable: $600
Required:
Prepare a Trial Balance at December 31, 2021.
Prepare an Income Statement for the year ended December 31, 2021.
Prepare a Statement of Retained Earnings for the year ended December 31, 2021.
Prepare a classified Balance Sheet at December 31, 2021.
Prepare a Cash Flow Statement for the year ended December 31, 2021.
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