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Given the following trial balance, create the Income Statement, Statement of Changes in Equity, and Statement of Financial Position. Your Bakeshop Adjusted Trial Balance December
Given the following trial balance, create the Income Statement, Statement of Changes in Equity, and Statement of Financial Position.
Your Bakeshop Adjusted Trial Balance December 31, 2019 \begin{tabular}{lrr} Cash & \multicolumn{1}{c}{ Debit } & Credit \\ Supplies & 2,200 & \\ Accounts receivable (net) & 1,800 & \\ Inventory & 5,400 & \\ Prepaid rent & 8,600 & \\ Equipment & 1,500 & \\ Accumulated depreciation - equipment & 105,000 & \\ Delivery van & & 32,500 \\ Accumulated depreciation - van & 42,000 & \\ Accounts payable & & 14,000 \\ Salaries payable & & 6,500 \\ Common shares & & 6,000 \\ Retained earnings & & 10,000 \\ Dividends declared & 5,000 & \\ Sales revenue & & 200,600 \\ Salaries expense & 84,000 & \\ Insurance expense & 5,000 & \\ Depreciation expense & 17,300 & \\ Bad debt expense & 500 & \\ Supplies expense & 18,400 & \\ Utilities expense & 4,800 & \\ Rent expense & 13,500 & \\ \hline \end{tabular} Step by Step Solution
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