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Please solve the question Acosta Accounting Adjusted Trial Balance December 31. 2015 Cash $100,000 Accounts receivable 7,000 Prepaid rent 15,000 Prepaid insurance 9,000 Office supplies
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Acosta Accounting Adjusted Trial Balance December 31. 2015 Cash $100,000 Accounts receivable 7,000 Prepaid rent 15,000 Prepaid insurance 9,000 Office supplies 3,300 Office equipment 8,000 Accumulated depreciation, equipment $3,200 Building 350,000 Accumulated depreciation building 42,000 Land 700,000 Accounts payable 5,800 Salaries payable 14.500 Interest payable 2.500 Long-term note payable 52.000 Margarita Acosta, capital 1.010.000 Margarita Acosta, withdrawals 200.500 Service fees camned 370,800 Salaries expense 90,000 Insurance expense 5,200 Rent expense 5.000 Depreciation Expense, equipment 800 Depreciation Expense, building 7,000 Totals $1,500,800 $1,500,800 Prepare A. Income Statement for the year ended Dec.31, 2015. B. a classified year-end balance sheet. A $7,000 installment on the long-term note payable is due within one year. C. Prepare the closing entries for the Co. for the year 2015Step by Step Solution
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