The unadjusted trial balance of Farrell Investment Advisers at December 31, 2024, follows: E (Click the icon to view the unadjusted trial balance.) Requirements 1. Prepare a worksheet for 2. Prepare the income state format. 3. Prepare closing entries. 23,000 Adjustment data at December 31, 2024: (Click the icon to view the adjustments.) $ 16,000 Net Income (LOSS) -X Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable More Info 15,000 Ings belo Prepare the statement of retained earnings. Enter any increases in retained earnings Review the Balance Sheet columns of the worksheet completed in Requirement 1. Unearned Revenue 3,000 a. 20,000 Notes Payable (long-term) Common Stock 19,000 Farrell Investment Advisers Statement of Retained Earnings Year Ended December 31, 2024 Retained Earnings, January 1, 2024 Unearned Revenue earned during the year, $100. Office Supplies on hand, $5,000. Depreciation for the year, $4,000. Accrued Salaries Expense, $4,000. Accrued Service Revenue, $5,500. 8,000 Retained Earnings 0 Dividends 27,000 Net income for the year 44,600 Service Revenue 90,000 2,000 44600 (27,000) Print Done Insurance Expense Salaries Expense Dividends 30,000 17600 Supplies Expense Retained Earnings, December 31, 2024 Intaract Cynanca A non Choose from any list or enter any number in the input fields and then click Check Answer. Prin Print None i Reference - X Jified 1 23,000 subt Equipment Accumulated Depreciation Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Common Stock Retained Earnings Dividends Service Revenue Insurance Expense Salaries Expense 20,000 15,000 4,000 2,900 20,000 19,000 8,000 27,000 Print Done The unadjusted trial balance of Farrell Investment Advisers at December 31, 2024, follows: E (Click the icon to view the unadjusted trial balance.) Requirements 1. Prepare a worksheet for 2. Prepare the income state format. 3. Prepare closing entries. 23,000 Adjustment data at December 31, 2024: (Click the icon to view the adjustments.) $ 16,000 Net Income (LOSS) -X Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable More Info 15,000 Ings belo Prepare the statement of retained earnings. Enter any increases in retained earnings Review the Balance Sheet columns of the worksheet completed in Requirement 1. Unearned Revenue 3,000 a. 20,000 Notes Payable (long-term) Common Stock 19,000 Farrell Investment Advisers Statement of Retained Earnings Year Ended December 31, 2024 Retained Earnings, January 1, 2024 Unearned Revenue earned during the year, $100. Office Supplies on hand, $5,000. Depreciation for the year, $4,000. Accrued Salaries Expense, $4,000. Accrued Service Revenue, $5,500. 8,000 Retained Earnings 0 Dividends 27,000 Net income for the year 44,600 Service Revenue 90,000 2,000 44600 (27,000) Print Done Insurance Expense Salaries Expense Dividends 30,000 17600 Supplies Expense Retained Earnings, December 31, 2024 Intaract Cynanca A non Choose from any list or enter any number in the input fields and then click Check Answer. Prin Print None i Reference - X Jified 1 23,000 subt Equipment Accumulated Depreciation Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Common Stock Retained Earnings Dividends Service Revenue Insurance Expense Salaries Expense 20,000 15,000 4,000 2,900 20,000 19,000 8,000 27,000 Print Done
