Reference no: EM133111490
Question - Below you will find the Unadjusted Trial Balance of the Jane Doe Printing Company.
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Jane Doe Printing Company Unadjusted Trial Balance Month Ended December 31, 2020
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Account
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Debit
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Credit
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Cash
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$33,000
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Prepaid Insurance
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12,000
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Accounts Receivable
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35,500
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Supplies
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4,500
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Equipment
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35,000
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Vehicle
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15,000
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Accounts Payable
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$21,500
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Unearned Revenue
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35,500
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Common Stock
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50,000
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Dividend
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10,000
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Revenue
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85,500
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Salary Expense
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25,000
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Printing Expense
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18,000
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Rent Expense
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2,500
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Utilities Expense
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1,250
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Auto Expense
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500
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Miscellaneous Expense
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250
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Total
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$192,500
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$192,500
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Required -
1. Prepare the following adjusting entries in the General Journal and post to the General Ledger.
Record Depreciation on Equipment, $1,000.
Record Depreciation on Vehicle, $250.
Supplies on hand at end of period, $2,000.
Unearned Revenue earned, $20,000.
Billed customers for services, $15,000.
2. Prepare the Income Statement.
3. Prepare the Statement of Shareholders Equity.
4. Prepare the Balance Sheet.
5. Discuss the profitability and liquidity of the company.
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: Below you will find the Unadjusted Trial Balance of the Jane Doe Printing Company. Discuss the profitability and liquidity of the company
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