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Indigo Remodelers was founded by Thomas Tyler in January 2011. Presented below is the adjusted trial balance as of December 31, 2020. INDIGO REMODELERS ADJUSTED
Indigo Remodelers was founded by Thomas Tyler in January 2011. Presented below is the adjusted trial balance as of December 31, 2020.
INDIGO REMODELERS ADJUSTED TRIAL BALANCE DECEMBER 31, 2020 | ||||||
---|---|---|---|---|---|---|
Dr. | Cr. | |||||
Cash | $23,000 | |||||
Accounts Receivable | 17,500 | |||||
Supplies | 2,000 | |||||
Prepaid Insurance | 1,500 | |||||
Equipment | 60,000 | |||||
Accumulated DepreciationEquipment | $35,000 | |||||
Accounts Payable | 3,000 | |||||
Interest Payable | 100 | |||||
Notes Payable | 6,000 | |||||
Unearned Service Revenue | 5,700 | |||||
Salaries and Wages Payable | 2,400 | |||||
Common Stock | 12,000 | |||||
Retained Earnings | 5,000 | |||||
Service Revenue | 67,000 | |||||
Salaries and Wages Expense | 11,600 | |||||
Insurance Expense | 800 | |||||
Interest Expense | 600 | |||||
Depreciation Expense | 7,000 | |||||
Supplies Expense | 3,700 | |||||
Rent Expense | 8,500 | |||||
$136,200 | $136,200 |
Prepare an income statement for the year ending December 31, 2020.
Prepare a statement of retained earnings for the year ending December 31, 2020. (List items that increase retained earnings first.)
Prepare an unclassified balance sheet at December 31. (List assets in order of liquidity.)
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