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Problem 2 Financial Statements ( 2 0 Points ) The adjusted trial balance for Nails Construction as of December 3 1 , 2 0 1
Problem Financial Statements Points
The adjusted trial balance for Nails Construction as of December follows:
NAILS COSNTRUCTION
Adjusted Trial Balance
December
Acc no Account Title Debit Credit
Cash
Shortterm investments
Supplies
Prepaid Insurance
Equipment
Accumulated Dep. Equipment
Building
Accumulated Dep. Building
Land
Accounts Payable
Interest Payable
Rent Payable
Wages Payable
Property Tax Payable
Unearned professional fees
Longterm notes payable
R Nails Capital
R Nails, Withdrawals
Rent earned
Professional fees earned Dividend earned
Interest earned
Depreciation Expense Building
Depreciation Expense Equipment
Wages Expense
Interest Expense
Insurance Expense
Rent Expense
Supplies Expense
Postage Expense
Property Tax Expense
Repairs Expense
Telephone Expense
Utilities Expense
Totals
Additional information
December balance of the R Nails, Capital account was $ie January
R Nails invested $ cash in the business during year
Required:
Prepare the Income Statement and
The Statement of Changes in Equity for the calendar year and
The classified balance sheet of December
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