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How to make an income statement

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Reference no: EM132768617

The following is the unadjusted trial balance for Certified Answering Service on December 31, 2008:

The following information is also available:

a. Insurance that expired during December amounted to $40.

b. Office supplies on hand on December 31 totaled $75.

c. Depreciation for December totaled $100.

d. Accrued wages on December 31 totaled $120.

e. Revenues earned for services performed in December but not billed by the end of the month totaled $300.

f. Revenues received in December in advance of services yet to be performed totaled $160.

Requirements:

Problem 1. Determine the required adjusting entries, and record them directly in the T accounts. Open new T accounts as needed.

Problem 2. how to Prepare an adjusted trial balance.

Problem 3. how to prepare an income statement, a statement of owner's equity, and a balance sheet for the month ended December 31, 2008.

Reference no: EM132768617

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