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The adjusted trial balance for Speedy Courier as of December 31 follows. 57F Cash Accounts receivable Search Debit $ 58,000 120,000 Credit Interest receivable
The adjusted trial balance for Speedy Courier as of December 31 follows. 57F Cash Accounts receivable Search Debit $ 58,000 120,000 Credit Interest receivable 7,000 Notes receivable (due in 90 days) 210,000 Office supplies 22,000 Trucks 134,000 Accumulated depreciation-Trucks $ 58,000 Equipment 270,000 Accumulated depreciation-Equipment 200,000 Land 100,000 Accounts payable 134,000 Interest payable 20,000 Salaries payable Unearned revenue Long-term notes payable 28,000 120,000 200,000 Common stock Retained earnings 15,000 110,000 Dividends Services revenue 50,000 611,800 Interest revenue 34,000 Depreciation expense-Trucks 29,000 Depreciation expense-Equipment 48,000 Salaries expense 74,000 Wages expense 300,000 Interest expense 15,000 Office supplies expense 31,000 Advertising expense 27,200 Repairs expense-Trucks 35,600 Wages expense 300,000 Interest expense 15,000 Office supplies expense 31,000 Advertising expense 27,200 Repairs expense-Trucks Totals 35,600 $1,530,800 $1,530,800 Required Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31: (6) the statement of retained earnings for the year ended December 31 [Note: Retained Earnings at Dec. 31 of the prior year was $110,000.); and (c) the balance sheet as of December 31. Check Total assets $663,000
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