Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Following are the accounts for Dakota Corporation. Both ordinary journal entries and adjusting journal entries have been posted for the year and the balances are

image text in transcribed

Following are the accounts for Dakota Corporation. Both ordinary journal entries and adjusting journal entries have been posted for the year and the balances are as of December 31, 2021. All balances are normal for account type. You need to prepare financials statements as of December 31, 2021. You do not need to prepare a proper statement heading. Use a - (hyphen) to represent that no data is presented. Use the account names exactly as presented in the table. Do NOT use a $(dollar sign). Do NOT use cents. DO use a comma separator. Cash 2.500 30,500 7,700 Unearned Revenue Owner, Capital Owner, Withdrawals 31,000 3,500 5,000 3,000 27,700 Accounts Receivable Supplies Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Interest Payable Note Payable 25,000 8,000 Service Revenue Salaries Expense Supplies Expense Depreciation Expense Rent Expense Interest Expense 7,000 6,000 4.000 500 875 25,000 3,000 875 Income Statement

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Ressourceneffizientes Wirtschaften

Authors: Heinz Karl Prammer

2nd Edition

3658046082, 9783658046088

More Books

Students also viewed these Accounting questions

Question

What is organizational flattening? Why is it practiced?

Answered: 1 week ago