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Create the income statement, balance sheet, and statement of retained earnings Adjusted Trial Balance @ 9/30/2018 (Use this for Review assignment) DR CR How did

Create the income statement, balance sheet, and statement of retained earnings

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Adjusted Trial Balance @ 9/30/2018 (Use this for Review assignment) DR CR How did this Trial Balance Cash 15,000 Accounts Payable 20,000 Process Accounts Receivable 23,500 Cost of Goods Sold 40,000 Transactions Happen Unearned Revenue 7,500 Rent Expense 4,000 Journals record the Trans Prepaid Insurance 3,500 Debits/Credits) Supplies Expense 4,000 Equipment 25,000 Record the Journals in T- Accumulated depreciation Equipment 5,000 Salary Payable 19,000 Buildings 30,000 Total the T-Accounts Cre Sales Revenue 100,000 Interest Expense 1,400 Adjustment Journals like Supplies 5,600 Common Stock 20,000 Adjusted Trial Balance Retained Earnings (begin) 12,500 Dividends 12,000 Salary Expense 20,000 184,000 184,000 ill create the financial statements in this order: come Statement uses Revenue/Sales and Expenses to determine the Net Income or Loss for the period. Revenue- Expenses = Net income/L atement of Retained Earnings uses the net income calculated in 1, to determine the increase or decrease and ending balance in retained ea lance Sheet shows the ending balance at the end of the period in Assets, Liabilities, and Shareholder's Equity

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