Instructions Foxy Investigative Services is an investigative services.docx

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Instructions Foxy Investigative Services is an investigative services firm that is owned and operated by Shirley Vickers. On November 30, 20Y8, the end of the fiscal vear, the accountant for Faxy Investigative Services prepared an end- of-period spreadsheet, a part of which follows Foxy Investigative Services End-of-Period Spreadsheet For the Year Ended November 30, 20Y8 Adjusted Trial Balance Account Title Dr. Cr. Cash 28,000 Accounts Receivable 71,000 Supplies 4,700 2 2 Instructions Prepaid Insurance 2,500 Building 432,500 Accumulated Depreciation-Building 44,200 Accounts Payable 11,700 Salaries Payable 2,500 Uneamed Rent 1,800 Common Stock 80,000 Retained Earnings 293,600 Dividends 12,000 714,800 Service Fees 12,000 Rent Revenue 526,000 Salaries Expense Instructions Rent Expense 48,000 Supplies Expense 11,000 Depreciation Expense-Building 7,000 Utilities Expense 7,300 Repairs Expense 2,800 Insurance Expense 2,000 Miscellaneous Expense 5,800 1,160,600 1,160,600 Instructions Required: 1. Prepare an income statement for the year ended November 30, 20Y8. If a net loss has been incurred, enter that amount as a negative A. number using a minus sign. Be sure to complete the statement heading Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not
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need to enter colons () on the income statement. Refer to the Chart of Accounts for exact wording of account titles B. Prepare a statement of stockholders'equity for the year ended November 30, 20Y8. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading Refer to the Chart of Accounts for exact wording of account titles.
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