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Prepare the Statement of Retained Earning for the given information below. No. Items 1 On December 1, Intel Inc. Received 80.000 TL cash from stockholders.

Prepare the Statement of Retained Earning for the given information below.

No.Items
1On December 1, Intel Inc. Received 80.000 TL cash from stockholders.
2On December 5, Intel Inc. Purchased gaming mainboard stand to storage gaming mainboard for 20.000 TL.
3On December 8, Intel Inc. Prepaid twelve months's office rent of 5.000 TL for each month. (5.000 TL per month as assumed)(5000 x 12)
4On December 11, Intel Inc. Purchased 10 gaming mainboard from Asus for 10.000 TL on credit 1/10, n/30.
5On December 13, Intel Inc. Sold 5 gaming mainboard to a local computer store for 10.000 TL on credit 2/10, n/30.
6On December 17, Intel Inc. Received returned 1.000 TL worth mainboard from the local store of the December 13 sale.
7On December 19, Intel Inc. Returned the mainboard of 500 TL back to Asus for broken product.
8On December 21, Intel Inc. Purchased 2 pcs. of mainboard worth 2.000 TL and other 2pcs. mainboard worth 5.000 TL from MSI Inc. n/45.
9On December 22, Intel Inc. Received 8.820 TL from local computer store.
10On December 27, Intel Inc. Sold 2 pcs. of mainboard to MSI Inc. on credit n/45.(it assumed Sale amount is 4000)
11On December 28, Intel Inc. Paid cash of 9.405 TL to Asus.
12On December 29, Intel Inc. Paid cash of 7.000 TL to MSI Inc.
13On December 30, Intel Inc Incurred 15.500 TL to Office Cleaning Service, Delivery Expense,Bill Expenses, and Salary Expenses.
The data developed for the December 31 adjusting entries are as follows:
No.Items
aOutstanding electricity charges - $500
b1 pcs. of mainboard broken, hence its worthless(assumed debit note to be given to supplier)
cIntel Inc. deprecation at the rate of 10% on declining balance method on the equipment purchased.(20000 x 10% / 12)
dIntel Inc. gave a loan of 10.000 TL to Tiger Inc. Interest accrued on the loan 85 TL.
eRent of 5.000 TL pertains to next month. ( assumed related to expiry of current month)
(it is assumed there is opening balance in cash and capital 20000)

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