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A cab company, EasyRide, has been operating in business since 1st January 2022 and the...

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Accounting

A cab company, EasyRide, has been operating in business since 1st January 2022 and the accountant has prepared the Trial Balance as below. EasyRide Trial Balance December 31, 2022 Debits () Credits () Cash 15,500 Accounts Receivable 4,500 Equipment 45,000 Accumulated Depreciation 5,000 Accounts Payable 4,000 Unearned Revenue 1,200 Salaries Payable 2,000 Interest Payable 1,200 Notes Payable 20,000 Capital stock 30,000 Revenue 32,800 Salaries Expense 17,000 Advertising Expense 5,000 Fuel Expense 2,000 Depreciation Expense 5,000 Interest Expense 1,200 Dividends 1,000 96,200 96,200 Prepare the following financial statements: i. Income Statement for FY2022 (8 marks) ii. Statement of Retained Earnings (6 marks) iii. Balance Sheet as of 31st December 2022 (8 marks)

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