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Please show the adjusted trial balance. The following is information for ABC a publicly traded company Condensed Balance Sheet at end of 2020 (amounts in

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Please show the adjusted trial balance.

The following is information for ABC a publicly traded company Condensed Balance Sheet at end of 2020 (amounts in thousands) Statement of C haneas in Stokkhniders Foutitu - 200 Results for 2021 Sales $281,300 All sales on credit Inventory Purchases on credit =191,400 and ending inventory $6200 (you calculate COGS) Depreciation expense $16,000 not including assets sold, bought or found Patent purchased in 2018 and determined to have remaining useful life of 10 years in 2021 Wages Expense $27,450 Paid in cash $2,194 additional owed at end of 2021 Insurance policy indicates that $5,700 was paid in May 2020 for 24 month coverage starting May 12020. During 2021 found an asset purchased and recorded in 2018 that had not been depreciated - cost 6,230 no salvage 10 year useful life (an error) Sold AFS Debt Securities that cost 400 for 390 in cash ( $7 loss in AOCl recorded previously) Sold equipment that cost 3,000 with accumulated depreciation of 2,690 for $200 in cash. Purchased new equipment costing $6,975 with $2,000 down payment and 10% note payable on December 1,2021 (first payment due January 1,2022 ) 10 year useful life and no salvage Collections on A/R=275,320 Payments on A/P=176,500 - all accounts payable deal with inventory All service agreements sold to customers in 2020 completed in 2021. New service agreements sold for $2460 in cash during 2021 - 40 percent of the services provided during 2021 Bond terms - interest only for 6.5% paid annually on September 1. Firm agreement with a bank signed on December 15 to refinance bond to a 5 year note in 2022 Note Payable - 4 payments of $3,300 made March 30, June 30, Sept 30 and December 31 interest of 8% per year (2\% per quarter) Each note payment pays the interest since the last payment with any remaining amount going toward principle Fair value of remaining AFS Debt Securities $1,400 Other Information Tax rate is 21% (unlike 2020 income taxes have not been paid) Half year convention for depreciation Required: 1. Show journal entries or T accounts for results of 2021 operations. 2. Create an income statement including taxes and required EPS disclosures for 2021. 3. Create a statement of comprehensive income for 2021 4. Create a statement of changes in stockholders equity for 2021 5. Create a balance sheet for the end of 2021 . 6. Create a cash flow statement for 2021 using the indirect method. 7. Show any necessary disclosures for 2020 that would be needed if both 2020 and 2021 were to be reported The following is information for ABC a publicly traded company Condensed Balance Sheet at end of 2020 (amounts in thousands) Statement of C haneas in Stokkhniders Foutitu - 200 Results for 2021 Sales $281,300 All sales on credit Inventory Purchases on credit =191,400 and ending inventory $6200 (you calculate COGS) Depreciation expense $16,000 not including assets sold, bought or found Patent purchased in 2018 and determined to have remaining useful life of 10 years in 2021 Wages Expense $27,450 Paid in cash $2,194 additional owed at end of 2021 Insurance policy indicates that $5,700 was paid in May 2020 for 24 month coverage starting May 12020. During 2021 found an asset purchased and recorded in 2018 that had not been depreciated - cost 6,230 no salvage 10 year useful life (an error) Sold AFS Debt Securities that cost 400 for 390 in cash ( $7 loss in AOCl recorded previously) Sold equipment that cost 3,000 with accumulated depreciation of 2,690 for $200 in cash. Purchased new equipment costing $6,975 with $2,000 down payment and 10% note payable on December 1,2021 (first payment due January 1,2022 ) 10 year useful life and no salvage Collections on A/R=275,320 Payments on A/P=176,500 - all accounts payable deal with inventory All service agreements sold to customers in 2020 completed in 2021. New service agreements sold for $2460 in cash during 2021 - 40 percent of the services provided during 2021 Bond terms - interest only for 6.5% paid annually on September 1. Firm agreement with a bank signed on December 15 to refinance bond to a 5 year note in 2022 Note Payable - 4 payments of $3,300 made March 30, June 30, Sept 30 and December 31 interest of 8% per year (2\% per quarter) Each note payment pays the interest since the last payment with any remaining amount going toward principle Fair value of remaining AFS Debt Securities $1,400 Other Information Tax rate is 21% (unlike 2020 income taxes have not been paid) Half year convention for depreciation Required: 1. Show journal entries or T accounts for results of 2021 operations. 2. Create an income statement including taxes and required EPS disclosures for 2021. 3. Create a statement of comprehensive income for 2021 4. Create a statement of changes in stockholders equity for 2021 5. Create a balance sheet for the end of 2021 . 6. Create a cash flow statement for 2021 using the indirect method. 7. Show any necessary disclosures for 2020 that would be needed if both 2020 and 2021 were to be reported

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