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FIND RETAINED EARNINGS ^^ PLEASE FIND THE RETAINED EARNINGS, FINANCIAL STATEMENTS, AND CASH FLOW. On December 1 of the current year, the general ledger of
FIND RETAINED EARNINGS ^^
PLEASE FIND THE RETAINED EARNINGS, FINANCIAL STATEMENTS, AND CASH FLOW.
On December 1 of the current year, the general ledger of Mossland Company, which was incoporated this year, includes the following account balances: 2) At the end of December, the following information was supplied to you. Analyze the transactions on the analysis tab. December 31 Rent for the month of December has expired. December 31 Supplies remaining on hand at the end of the month totaled $2,400. December 31 By the end of December, 15% of the deferred revenue has been earned. December 31 Salaries earned but not yet paid as of the end of the month totalled $1,030. December 31 Annual depreciation on the equipment is $1,200. December 31 The interest rate on the December 1 note is 12%. The annual interest totals $2,400. 3) Post all transactions to the ledger on the ledger tab. 4) Created an adjusted trial balance. 5) Create the financial statements. 6) Record the closing entries on the closing entries tab (do not post to the ledger) \begin{tabular}{|l|c|c|} \hline \multicolumn{3}{|c|}{ Mossland Company } \\ \multicolumn{3}{|c|}{ Trial Balance } \\ \multicolumn{1}{|c|}{ Aecember 31, 2021 } \\ \hline Accounts & Debit & Credit \\ \hline Cash & $26,500 & \\ \hline Accounts Receivable & $7,400 & \\ \hline Prepaid Rent & $7,700 & \\ \hline Supplies & $2,400 & \\ \hline Land & $58,000 & \\ \hline Equipment & $20,000 & \\ \hline Accumulated Depreciation & & $100 \\ \hline Accounts Payable & & $3,500 \\ \hline Deferred Revenue & & $3,825 \\ \hline Salaries Payable & & $1,030 \\ \hline Interest Payable & & $200 \\ \hline Notes Payable & & $20,000 \\ \hline Common Stock & & $88,500 \\ \hline Retained Earnings & & \\ \hline Dividends & $13,330 & \\ \hline Service Revenue & $700 & \\ \hline Salaries Expense & $200 & \\ \hline Rent Expense & & \\ \hline Depreciation Expense & & \\ \hline Interest Expense & & \\ \hline Supplies Expense & & \\ \hline Totals & & \\ \hline \end{tabular} Mossland Company Statement of Stockholders' Equity For the year ended December 31, 2021 \begin{tabular}{|l|l|l|l|} \hline & Common Stock & Retained Earnings & Total \\ \hline Balance, January 1 & & & \\ \hline Plus: Issuance of Stock & & & \\ \hline Plus: Net Income & & & \\ \hline Less: Dividends & & & \\ \hline Balance, December 31 & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|l|} \hline Cash Flows & & & & \\ \hline +OA & & & & \\ \hline -OA & & & & \\ \hline +IA & & & & \\ \hline -IA & & & & \\ \hline +FA & & & & \\ \hline -FA & & & & \\ \hline No Effect & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular}Step by Step Solution
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