I need the answer as soon as possible Completing the Accounting CycleJustine CompanyUnadjusted Trial BalanceDecember 31, 2024CashAccounts ReceivableCleaning SuppliesCleaning EquipmentAccumulated Depreciation - Cleaning EquipmentAccounts PayableUnearned Service RevenueCommon StockRetained EarningsDividendsService RevenueSalaries ExpenseCleaning Supplies ExpenseTotal$35,57259,6802,44320,300$3,2002,6405,65035,00060,8055,00089,00071,2002,100$196.295$196.295The following information is also available:a.Ending inventory of cleaning supplies, $ 538b.Depreciation of cleaning equipment for the period, $ 800C.Salaries accrued at the end of the period, $ 450d.Service revenue still unearned at the end of the period, $ 3,650e.Service revenue earned but not billed, $ 1,800Requirements:1.Prepare the financial statements: Income Statement, Statement of Retained Earnings, and Balance Sheet.2.Statements should be prepared in proper form.Financial StatementsJustine CompanyIncome StatementFor the Year Ended December 31, 2024Revenue:Service revenueExpenses:Depreciation expense: cleaning equipmentSalaries expenseCleaning supplies expenseTotal expensesNet IncomeJustine CompanyIncome StatementFor the Year Ended December 31, 2024Retained earnings, January 1Add: Net incomeLess: DividendsRetained earnings, December 31Justine CompanyBalance SheetDecember 31, 2024AssetsCurrent assetsCashAccounts receivableCleaning suppliesTotal current assetsProperty, plant, and equipmentCleaning equipmentLess: Accumulated depreciation - cleaning equipmentTotal property, plant, and equipmentTotal assetsLiabilities and Stockholders' EquityLiabilitiesAccounts payableUnearned service revenueSalaries payableTotal liabilitiesStockholders' EquityCommon stockRetained earningsTotal stockholders' equityTotal liabilities and stockholders' equity8.

Financial statement is the representation of company's position and activities during the year in a…

Completing the Accounting Cycle Justine Company Unadjusted Trial Balance December 31, 2024 Cash Accounts Receivable Cleaning Supplies Cleaning Equipment Accumulated Depreciation - Cleaning Equipment Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Cleaning Supplies Expense Total $35,572 59,680 2,443 20,300 $3,200 2,640 5,650 35,000 60,805 5,000 89,000 71,200 2.100 $196.295 $196.295 The following information is also available: a. Ending inventory of cleaning supplies, $ 538 b. Depreciation of cleaning equipment for the period, $ 800 C. Salaries accrued at the end of the period, $ 450 d. Service revenue still unearned at the end of the period, $3,650 e. Service revenue earned but not billed, $ 1,800 Requirements: 1. Prepare the financial statements: Income Statement, Statement of Retained Earnings, and Balance Sheet 2. Statements should be prepared in proper form.

Completing the Accounting Cycle Justine Company Unadjusted Trial Balance December 31, 2024 Cash Accounts Receivable Cleaning Supplies Cleaning Equipment Accumulated Depreciation - Cleaning Equipment Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Cleaning Supplies Expense Total $35,572 59,680 2,443 20,300 $3,200 2,640 5,650 35,000 60,805 5,000 89,000 71,200 2.100 $196.295 $196.295 The following information is also available: a. Ending inventory of cleaning supplies, $ 538 b. Depreciation of cleaning equipment for the period, $ 800 C. Salaries accrued at the end of the period, $ 450 d. Service revenue still unearned at the end of the period, $3,650 e. Service revenue earned but not billed, $ 1,800 Requirements: 1. Prepare the financial statements: Income Statement, Statement of Retained Earnings, and Balance Sheet 2. Statements should be prepared in proper form.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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