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Answer the following questions. Submit this portion as a Word document or Excel spreadsheet.
The following is the trial balance for Eazy Services, Inc.:
Eazy Services, Inc. Trial Balance For the Year Ended December 31, 201X
DR
CR
Cash
$50,250
Accounts Receivable
27,900
Office Equipment
45,000
Accounts Payable
42,250
Common Stock
60,300
Dividends
2,500
Retained Earnings
00
Sales Revenue
65,000
Salary Expense
33,650
Operating Expense
8,250
167,550
1. Prepare an Income Statement, Statement of Changes in Stockholders' Equity and a Balance Sheet. (Assume that the company issued $60,300 of common stock on January 2, 201X. The business started on January 2, 201X)
2. Explain the purpose of a post-closing trial balance.
Prepare the stockholders' equity section of the KCAS-TV balance sheet at September 30, 2012.
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State where the balance of Deferred Gross Profit would be reported on the financial statements for 2013. Compute amount of realized gross profit to be recognized on the income statement, prepared using the cost-recovery method.
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Process costing would be most applicable for
The exercise price on one of Nice Co’s call options is $20, its exercise value is $31, and its premium is $7. Illustrate what are the option’s market value and the stock’s current price?
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