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QUESTION

ABC Company ABC Company ABC Company Income Statement Statement of Retained Earnings Balance Sheet December 31, 2018 December 31, 2018 December 31,...

I have completed this, But I would like someone to ensure that I've done it correctly.

Based on this Adjusted Trial Balance there needs to be an Income Statement, a Statement of Retained Earnings, and a Classified Balance Sheet closing entries dated December 31, 2018

Adjusted Trial Balance

Income Statement, a Statement of Retained Earnings, and a Classified Balance Sheet

Please let me know if there are any errors.

  • Attachment 1
  • Attachment 2
ABC CompanyABC CompanyABC CompanyIncome StatementStatement of Retained EarningsBalance SheetDecember 31, 2018December 31, 2018December 31, 2018Revenues:Retained Earnings December 1st, 2018AssetsService Revenue5,450.00Plus Net IncomeCash1,360.00Subtotal3,211.00Accounts Receivable1,450.00Total Revenue5,450.00less Dividends500.00Supplies400.00Prepaid Insurance1,100.00ExpensesRetained Earnings December 31st, 20182,711.00Total Current Assets4,310.00Salaries Expense856.00Depreciation Expense40.00Operating AssetsAmortization Expense25.00Office Equipment1,200.00Supplies Expense1,070.00Accumulated Depreciation(40.0Interest Expense23.00Total Operating Assets1,160.00Insurance Expense100.00Telephone Expense125.00Intangible AssetsWebsite575.00Total Expenses2,239.00Total Intangible Assets575.00Net Income3,211.00Total Assets6,045.00LiabilitiesAccounts Payable75.00Unearned Revenue360.00Salaries Payable56.00Notes Payable2,000.00Interest Payable23.00Total Liabilities2,514.00Total Liabilities2,514.00EquityCommon Stock820.00Retained Earnings2,711.00Total Equity3,531.00Total Liabilities2,514.00Total Equity3,531.00Total Liabilities & Equity6,045.00
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