Question
The trial balance of Large Company, Inc. at the end of its annual accounting period is as follows: LARGE COMPANY, INC. Trial Balance December 31,
The trial balance of Large Company, Inc. at the end of its annual accounting period is as follows: LARGE COMPANY, INC. Trial Balance December 31, 2022 Cash $19,000 Prepaid Insurance 2,600 Supplies 5,100 Equipment 22,500 Accumulated DepreciationEquipment $ 5,000 Retained Earnings 19,000 Interest Income.. 1,000 Revenue 37,000 Salaries Expense 28,300 Rent Expense 21,000 __
Additional information: 1. Expired insurance, $600. 2. Inventory, $800. 3. Depreciation, $1,000. 4. Unpaid salaries, $700 5. Amortization, $3,500 6. Trademark Cost 1/1/ $2,000 sold 7/1 for $5,000 5 year life 7. Payroll $1,700 Payroll Tax due $326.00 8. Accrued Vacation $300.00 9. Got at 1000,000 Loan paid 1,000 in interest 10. Sale that was not recorded for $3,000 on credit Required
1. Prepare adjusting entries 2. Prepare adjusted Trial Balance and Balance Sheet 3. Prepare an Income Statement 4. Prepare a Retained Earnings Statement 5. Prepare closing entries. 6. Prepare a post-closing trial balance. 7. What is the Debt to Asset ratio 8. What is the Current Ratio 9. What is the Acid Test Ratio 10. What is the Gross Profit Percentage
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