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I WOULD LOVE IF SOMEONE CAN ANSWER THIS!! THANK YOUU Below is the trial balance of All Star Company on December 31, 2018. The accounts
I WOULD LOVE IF SOMEONE CAN ANSWER THIS!! THANK YOUU
Below is the trial balance of All Star Company on December 31, 2018. The accounts are listed in alphabetical order and all accounts have normal balances Account Title: Accounts Payable Accounts Receivable Advertising Expense Building Cash Common Stock Dividends Declared Equipment Insurance Expense Land Balance: $3,400 6,700 1,600 15,000 8,400 8,000 3,100 9,600 500 2,000 Account Title: Service Revenue Notes Payable Prepaid Insurance Rent Expense Repair Expense Retained Earnings Salaries Expense Salaries Payable Supplies Supplies Expense Unearned Service Revenue Balance: S 14,000 25,000 700 1,500 450 1,500 2,800 650 500 1,100 1,400 REQUIRED: Prepare the financial statements for the year for All Star Company-an income statement a statement of retained earnings and a balance sheet. You may want to refer to the template under Financial Statement Projects at Wileyplus Think about the CONTENT of each financial statement and which type of account is reported on each statement. As you look at the list of accounts above, think about what type of account it is. You may want to "check off" or "cross out" each account as you place it on a financial statement to be sure you don't omit any Note: Remember that all of the retained earnings events have been recorded in the retained earnings expanded accounts: revenues, expenses, and dividends declared. Therefore, any balance ALREADY in the retained earnings account must be the ending balance of the previous time period, carried forward to the current time period as a beginning balanceStep by Step Solution
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