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Problem 2 - Financial Statements 2 0 Points The adjusted trial balance for Nails Construction a s o f December 3 1 , 2 0
Problem Financial Statements Points The adjusted trial balance for Nails Construction December follows: NAILS COSNTRUCTION Adjusted Trial Balance December Acc 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 Nails Capital 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 the Nails, Capital account was $ January Nails invested $ cash the business during year Required: Prepare the Income Statement and The Statement Changes Equity for the calendar year and The classified balance sheet December
Problem Financial Statements Points
The adjusted trial balance for Nails Construction December follows:
NAILS COSNTRUCTION
Adjusted Trial Balance
December
Acc 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
Nails Capital
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 the Nails, Capital account was $ January
Nails invested $ cash the business during year
Required:
Prepare the Income Statement and
The Statement Changes Equity for the calendar year and
The classified balance sheet December
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