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Financial Accounting Libby Libby Hodge 9th Edition AP4-7, please help me South Bend Repair Service Co. keeps its records without the help of an accountant.
Financial Accounting Libby Libby Hodge 9th Edition AP4-7, please help me
South Bend Repair Service Co. keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period, December 31, 2011: Data not yet recorded at December 31, 2011 include: Depreciation expense for 2011, $3,000. Insurance expired during 2011, $450. Wages earned by employees but not yet paid on December 31, 2011, $2, 100. The supplies count on December 31, 2011, reflected $800 remaining supplies on hand to be used in 2012. Income tax expense was $3, 150. Record the 2011 adjusting entries. Prepare an income statement and a classified balance sheet for 2011 to include the effects of the preceding five transactions. Record the 2011 closing entryStep by Step Solution
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