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Prepare Income Statement(includuing OCI) and Balance Sheet in good form for end of year. Prepare closing entries:

	Account Titles	Debit	Credit
Jan 1	Cash	200,000
	Common Stock		100,000
	Additional-paid in capital		100,000
1	Cash	250,000
	Notes Payable		250,000
	Interest Expense	30,900
	Interest Payable		30,900
3	Prepaid Rent	24,000
	Cash		24,000
	Rent Expense	24,000
	Prepaid rent		24,000
15	Equipment	36,000
	Supplies	12,000
	Cash		48,000
2/7	Cash	150,000
	Unearned Revenue		150,000
3/1	Cash	200,000
	Service Revenue		200,000
	Miscellaneous Expense	50.000
	Cash		50,000
	Account Titles	Debit	Credit
7/1	Prepaid Insurance	36,000
	Cash		36,000
	Insurance Expense	18,000
	Prepaid Insurance		18,000
9/12	Supplies	10,000
	Accounts Payable		10,000
9/16	Accounts Receivable	30,000
	Service Revenue		30,000
10/1	Investment	10,000
	Cash		10,000
10/20	Cash	5,000
	Accounts Receivable		5,000
10/20	Accounts Receivable	40,000
	Cash	10,000
	Unearned Revenue		50,000
12/1	Equipment	40,000
	Gain-Equipment		40,000
12/15	Accounts Payable	1,000
	Cash		1,000
	Cash	10,000
	Accounts Receivable		10,000

	Account Titles	Debit	Credit
12/31	Supplies Expense	7,000
	Supplies		7,000
12/31	Salaries Expense	15,000
	Salaries Payable		2,000
	Cash		13,000
12/31	Depreciation Expense-Equipment	10,000
	Accumulated Depreciation-Equipment		10,000
12/31	Unearned Service Revenue	140,000
	Service Revenue		140,000
12/31	Investment	2,000
	Unrealized-Gain		2,000
12/31	Dividends	10,000
	Dividends Payable		10,000
12/31	Cash	2,000
	Dividends		2,000

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