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do this question according to canadian standard GAAP prepare income statement, change in equity and balance sheet Question 4 [30 points] Frank Levens started Ludwig
do this question according to canadian standard GAAP
prepare income statement, change in equity and balance sheet
Question 4 [30 points] Frank Levens started Ludwig Inc. on February 1, 2014. The adjusted trial balance shown below has been prepared for Ludwig Inc. as of February 28, 2014. Use this information to prepare the income statement and statement of changes in equity for the month ended February 28 along with the February 28 balance sheet. Ludwig Inc. Adjusted Trial Balance February 28, 2014 (select one) Income Statement (select one) Accounts receivable Accumulated depreciation, boats Accumulated depreciation, building Advertising expense Advertising payable Boats Building Consulting revenue earned Depreciation expense, boats Depreciation expense, building Dividends Interest earned Interest expense Long-term notes payable Rent earned Share capital Supplies Unearned consulting revenue Unearned rent Totals Debit Credit 131,000 15,000 13,500 92,000 62,500 188,500 91,500 127,000 15,000 13,500 22,500 24,000 32,000 152,500 84,500 88,500 36,500 14,000 41,000 622,500 622,500 (select one) Statement of Changes in Equity (select one Share Retained Total Capital Earnings Equity X X X (select one) Balance Sheet (select one) X X X X XStep by Step Solution
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