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I-04.02 Problem

I-04.02 Problem - 89,119 89,119 Dividends...

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I-04.02 Examine the following trial balances, before and after adjustment: CHESTERFIELD CORPORATION Trial Balance and Adjusted Trial Balance December 31, 20X9 Trial Balance Adjusted Trial Balance Debits Credits Debits Credits Cash 166,890 $ $ - 166,890 $ $ - Accounts Receivable 87,654 - 107,654 - Supplies 8,992 - 4,500 - Prepaid Rent 6,000 2,000 - Equipment 145,700 - 145,700 - Accumulated Depreciation - 37,660 - 44,660 Accounts Payable - 13,590 - 13,590 Wages Payable - - - 4,500 Interest Payable - 1,500 Unearned Revenue - 18,000 - 12,000 Notes Payable - 50,000 - 50,000 Capital Stock - 225,000 - 225,000 Retained Earnings, Jan. 1
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Unformatted text preview: - 89,119- 89,119 Dividends 40,000 -40,000-Revenues- 334,490- 360,490 Wages Expense 276,123-280,623-Rent Expense 33,000-37,000-Depreciation Expense--7,000-Supplies Expense--4,492-Interest Expense 3,500-5,000-767,859 $ 767,859 $ 800,859 $ 800,859 $ (a) Determine and record the apparent adjusting entries in journal entry format. (b) Prepare an income statement for the year ending December 31, 20X9. (c) Prepare a statement of retained earnings for the year ending December 31, 20X9. (d) Prepare a classified balance sheet as of December 31, 20X9....
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