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Question 1 (50 points] Callaho Inc. began operations 2 years ago. Its adjusted account balances at January 31, 2014 are shown below. Callaho Inc. issued
Question 1 (50 points] Callaho Inc. began operations 2 years ago. Its adjusted account balances at January 31, 2014 are shown below. Callaho Inc. issued shares worth $4,000 during January, 2014. Use this information to prepare the following: a. Income statement for the month ended January 31. b. Statement of changes in equity for the month ended January 31. c. Classified balance sheet at January 31. c. Classified balance sheet at January 31. (select one Income Statement (select one) X + +1 X X X X X X Account Accounts receivable Accumulated depreciation, building Accumulated depreciation, trucks Advertising expense Advertising payable Bonds Payable (due April, 2023). Building Cash Commissions earned Consulting revenue earned Copyright Depreciation expense, building Depreciation expense, trucks Dividends Interest earned Interest expense Interest payable Land Long-term notes payable Long-term investment in shares Patents Prepaid interest Property taxes expense Property taxes payable Retained earnings Share capital Trucks Unearned consulting revenue Balance 11,210 640 2,900 8,980 3,750 7,080 3,820 5,890 8,840 11,890 8,140 570 600 1,920 3,040 2,980 1,010 7,340 11,740 7,740 6,400 1,030 4,880 3,750 16,400 10,840 13,820 3,440 (select one) Statement of Changes in Equity (select one) Share Retained Total Capital Earnings Equity X + (select one) Balance Sheet (select one) XI X + X ++
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