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Use the following information for Quick Studies below. ( Static ) Skip to question [ The following information applies to the questions displayed below. ]
Use the following information for Quick Studies below. Static
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The following information applies to the questions displayed below.
The following is the adjusted trial balance of Sierra Company.
Sierra Company
Adjusted Trial Balance
December
Account Title Debit Credit
Cash $
Prepaid insurance
Notes receivable due in years
Buildings
Accumulated depreciationBuildings $
Accounts payable
Notes payable due in years
Common stock
Retained earnings
Dividends
Consulting revenue
Wages expense
Depreciation expenseBuildings
Insurance expense
Totals $ $
QS Static Preparing an income statement & statement of retained earnings LO C
Prepare an income statement for the year ended December
Prepare a statement of retained earnings for the year ended December The Retained Earnings account balance was $ on December of the prior year.
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