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Use the following Adjusted Trial Balance to create an Income Statement, Statement of Owner's Equity and a classified Balance Sheet. Please use proper terminology, such
Use the following Adjusted Trial Balance to create an Income Statement, Statement of Owner's Equity and a classified Balance Sheet. Please use proper terminology, such as Current Assets, Current Liabilities, Total Assets, Total Liabilities and "Total Liabilities and Owner's Equity". Feel free to use extra paper for your answer. Accumulated Depreciation - Bldg. 5,000 Accounts Payable 4,000 Accounts Receivable 20,000 Building 35,000 Cash 1,000 Cost of Goods Sold 27,000 Depreciation expense -bldg 3,000 Not included in Cost of Goods Sold Inventory 18,000 Note payable (due in 5 years) Salaries payable 34,000 2,000 Sales revenue 47,000 Smith, Capital 4,700 Smith, Withdrawals 2,700 Unearned revenue 8,000
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