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Enter your answer below Question 3. 11.5 marks (approx 24 minutes) Below are the unadjusted account balances for Dickenson Corp as of December 31,
Enter your answer below Question 3. 11.5 marks (approx 24 minutes) Below are the unadjusted account balances for Dickenson Corp as of December 31, 2021: Unadjusted Account Balances Account Accounts payable Accounts receivable Accumulated depreciation Cash Common Shares Cost of goods sold Equipment Interest expense Inventory Long term Loan 3,350 11,000 29,779 $ 39,771 $ 20,000 $ 194,000 44,000 5,250 18,060 26,000 Prepaid rent 2,600 Rent expense $ 19,087 Retained Earnings $ 21,302 Sales $ 280,412 Salaries expense $ 51,000 Supplies 2,075 Unearned revenue 6,000 The accountant recorded the following adjusting entries: (1) Depreciation on the equipment $ 5,522 Salaries payable for 6 days of work $ 1,020 Interest expense $ 1,040 (2) The ending supplies inventory count came to $1575 indicating that $500 of supplies had been used during the year. (3) All unearned revenue obligations were fulfilled. (4) Income tax is calculated as $1000 but has not yet been paid. Required: Prepare a Statement of Financial Position for the year 2021.
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