Question
Information: St. John's Technology Unadjusted Trial Balance December 31, 20xx Cash $12,660 Accounts Receivable 15,390 Merchandise Inventory 58,000 Office Supplies 3,330 Building 195,000 Accumulated
Information: St. John's Technology Unadjusted Trial Balance December 31, 20xx Cash $12,660 Accounts Receivable 15,390 Merchandise Inventory 58,000 Office Supplies 3,330 Building 195,000 Accumulated Depreciation, Building $45,000 Furniture 53,000 Accumulated Depreciation, Furniture 6,200 Accounts Payable 24,775 Salaries Payable 0 Unearned Revenue 6,150 Notes Payable, long-term 78,000 Common Stock 120,000 Retained Earnings Dividends Sales Revenue 42,120 8,200 142,370 Cost of Goods Sold 87,665 Office Supplies Expenses 19,830 Salaries Expenses 11,540 Depreciation Expense, Building 0 Depreciation Expense, Furniture 0 Totals $464,615 $464,615 Information for Adjustments Office Supplies consumed during the month: $1,780 Depreciation Expense for Building: $4,500 Depreciation Expense for Furniture: $2,600 Unearned revenue earned during the month: $3,825 Accrued salaries at month end: $975 Objective of this assignment: To create a set of financial statements using the accounts that you have learned. Assignment: Prepare an income statement, statement of retained earnings and balance sheet for the company listed above. Be sure to include all adjustments in the preparation of your statements. You must type the financial statements in Word or Excel. Submit your work through Canvas by uploading a file. Be sure to complete all parts of the statements and use correct formatting.
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