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The account balances of SMK's Architectural Firm as of March 31, 2013 follow. Prepare a classified Balance Sheet for SMK's Architectural Firm for the month
The account balances of SMK's Architectural Firm as of March 31, 2013 follow.
Prepare a classified Balance Sheet for SMK's Architectural Firm for the month ending March, 31, 2013.
Hint: The Retained Earnings balance shown above is a beginning balance. It has not yet been adjusted to get the ending balance, as required in the Statement of Retained Earnings. If you just enter the Retained Earnings balance as shown in the Balance Sheet, it will be marked wrong as it has not been adjusted for Net Income/Net Loss and dividents.
The account balances of SMK's Architectural Firm as of March 31, 2013 follow. Equipment Rent expense 3,500 Accounts payable 5,675 Office supplies 2,700 Accounts receivable 18,145 Common stock 45,000 Retained earnings 28,410 Cash Notes payable 52,875 Service revenue 23,310 Utilities expense 1,100 Furniture Investments 16,900 Interest revenue 6,350 44,700 Advertising expense 3,005 38,410 Salaries expense 12,360 20,800 Prepare a classified Balance Sheet for SMK's Architectural Firm for the month ending March, 31, 2013 Hint: The Retained Earnings balance shown above is a beginning balance. It has not yet been adjusted to get the ending balance, as required in the Statement of Retained Earnings. If you just enter the Retained Earnings balance as shown in the Balance Sheet, it will be marked wrong as it has not been adjusted for Net Income/Net Loss and dividents SMK's Architectural Firm, Inc. Balance Sheet For the month ending March 31,2013Step by Step Solution
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