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The adjusted trial balance for Larkspur, Inc. is given below Larkspur, Inc. Trial Balance August 31, 2020 Cash Accounts Receivable Supplies Prepaid Insurance Equipment
The adjusted trial balance for Larkspur, Inc. is given below Larkspur, Inc. Trial Balance August 31, 2020 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Rent Revenue Common Stock Retained Earnings Before Adjustment Dr. $10,400 8,900 2,400 3,800 12.700 Cr. $3,700 5.900 0 1.600 10,500 3.600 After Adjustment Dr. $10,400 9.500 600 2,700 12,700 Cr. $4,500 5,900 1,400 600 10,500 3,600 Service Revenue Rent Revenue Salaries and Wages Expense Supplies Expense Rent Expense Insurance Expense Depreciation Expense 16,900 Prepare the income statement for the year. 0 15,200 0 0 $70,300 34,000 11,000 $70,300 18,300 1,800 15,200 1,100 800 $73,100 34,600 12,000 $73,100 Prepare the retained earnings statement for the year. Prepare the balance sheet at August 31. (List Assets in order of liquidity)
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To prepare the income statement for the year we need to calculate the total revenue and expenses Income Statement for the Year Service Revenue 34600 R...Get Instant Access to Expert-Tailored Solutions
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