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 transcribedimage 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 30,500 Unearned Revenue Accounts Receivable 7,700 2,500 31,000 3,500 5,000 3,000 25,000 Supplies Prepaid Rent Equipment Accumulated Depreciation Accounts Payables Interest Payable Note Payable Owner, Capital Owner, Withdrawals Service Revenue Salaries Expense Supplies Expense Depreciation Expense Rent Expense Interest Expense 27,700 7,000 6,000 8,000 500 4.000 875 3.000 875 25,000 Income Statement Revenues: Service Revenue 27.700 Total Revenue 27.700 Expenses: Salaries Expense Supplies Expense Statement of Equity Balance Sheet is Assets: Liabilities: Owners' Equity

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_2

Step: 3

blur-text-image_3

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

Financial And Managerial Accounting For MBAs

Authors: Peter D. Easton

6th Edition

1618533592, 9781618533593

More Books

Students also viewed these Accounting questions

Question

Describe the role of HRD practitioners in OD interventions

Answered: 1 week ago