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P 4 - 7 ( Algo ) Recording Adjusting and Closing Entries and Preparing a Balance Sheet and Income Statement Including Earnings per Share LO
PAlgo Recording Adjusting and Closing Entries and Preparing a Balance Sheet and Income Statement Including Earnings per Share LOSkip to question javascript:;The following information applies to the questions displayed below.TunstallIncorporated a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period on December :Tunstall IncorporatedUnadjusted Trial BalanceAt December DebitCreditCashAccounts receivableSuppliesPrepaid insuranceService trucksAccumulated depreciationOther assetsAccounts payableWages payableIncome taxes payableNotes payable years; interest due each September Common stock shares outstandingAdditional paidin capitalRetained earningsService revenueWages expenseRemaining expenses not detailed; excludes income taxIncome tax expenseTotalsData not yet recorded at December included:aThe supplies count on December reflected $ in remaining supplies on hand to be used in the next year.bInsurance expired during the current year, $cDepreciation expense for the current year, $dWages earned by employees not yet paid on December $eThree months of interest expense for the note payable borrowed on October of the current year was incurred in the current year.fIncome tax expense, $P Part
PAlgo Recording Adjusting and Closing Entries and Preparing a Balance Sheet and Income Statement Including Earnings per Share LOSkip to question javascript:;The following information applies to the questions displayed below.TunstallIncorporated a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period on December :Tunstall IncorporatedUnadjusted Trial BalanceAt December DebitCreditCashAccounts receivableSuppliesPrepaid insuranceService trucksAccumulated depreciationOther assetsAccounts payableWages payableIncome taxes payableNotes payable years; interest due each September Common stock shares outstandingAdditional paidin capitalRetained earningsService revenueWages expenseRemaining expenses not detailed; excludes income taxIncome tax expenseTotalsData not yet recorded at December included:aThe supplies count on December reflected $ in remaining supplies on hand to be used in the next year.bInsurance expired during the current year, $cDepreciation expense for the current year, $dWages earned by employees not yet paid on December $eThree months of interest expense for the note payable borrowed on October of the current year was incurred in the current year.fIncome tax expense, $P Part
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