PREPARE A BALANCE SHEET, AND PLEASE PROVIDE STEPS ON HOW RETAINED EARNINGS IS GIVEN AND...
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Accounting
PREPARE A BALANCE SHEET, AND PLEASE PROVIDE STEPS ON HOW RETAINED EARNINGS IS GIVEN AND HOW THE AMOUNT YOU RECEIVED FOR INVESTMENT IN PEARL AND BOND IS GIVEN. THANK YOU
Cash 990,000
Common Stock 10,000
Service Revenue 355,000
Accounts Receivable 65,000
Additional Paid in Capital 390,000
Notes Payable 350,000
Interest Expense 29,167
Interest Payable 29,167
Prepaid Rent 24,000
Equipment 76,000
Depreciation 10,000
Accumulated Depreciation 10,000
Supplies 5,000
Unearned Service Revenue 30,000
Misc Expense 50,000
prepaid insurance 12,000
insurance expense 12,000
accounts payable 6,000
unrealized gain in investment 6,000
unrealized gain in bond 7,000
Investment in Pear Inc 16,000
Bond Pear Inc 12,000
Supplies Expense 18,000
Gain on sale of business 40,000
salaries expense 45,000
salaries payable 10,000
dividend 10,000
dividend income 2,000
interest from bond 1,000
TAX RATE IS 21% (NONE OF THE TAX IS PAID, BUT IT IS ACCRUED AS A LIABILITY)
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