Required:Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31; (b) thestatement of retained earnings for the year ended December 31 [Note: Retained Earnings at December 31 of the prior year was$239,220]; and (c) the balance sheet as of December 31.Complete this question by entering your answers in the tabs below.Required A Required BRequired CPrepare Chiara Company's balance sheet as of December 31.CHIARA COMPANYBalance SheetDecember 31AssetsCashAccounts receivableOffice suppliesInterest receivableNotes receivableAutomobilesAccumulated depreciation-AutomobilesEquipmentDepreciation expense AutomobilesExpenses$000 3 (complete only if your exam 1 or 2 was low and ...-intLCraw511The adjusted trial balance for Chiara Company as of December 31 follows.@CashAccounts receivable.Interest receivable2Notes receivable (due in 90 days)Office suppliesAutomobilesAccumulated depreciation-AutomobilesEquipmentAccumulated depreciation-EquipmentLandAccounts payableInterest payableSalaries payableUnearned revenueLong-term notes payableCommon stockRetained earningsDividendsServicesInterestrevenuerevenueDepreciation expense-AutomobilesDepreciation expense-EquipmentSalaries expenseWages expenseInterest expenseoffice supplies expenseAdvertising expenseRepairs expense-AutomobilesTotals3сDebit$ 145,40052,00021,600171,500$415,500171,000134,00086,00053,000Saved< PrevRequired:Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended Decembstatement of retained earnings for the year ended December 31 [Note: Retained Earnings at December 31 of the F$239,220]; and (c) the balance sheet as of December 31.Credit$ 105,00027,000106,00030,00022,00042,000148,00026,580239,220504,00036,00025,00020,000183,00043,00037,00035,20064,00028,600$ 1,285,800 $ 1,285,800G Search or type URLBOOOOOOY%562 of 11 #MacBook Pro&>789

Name: Required:Use the information in the adjusted trial balance to prepare
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Description: Required:Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31; (b) thestatement of retained earnings for the year ended December 31 [Note: Retained Earnings at December 31 of the prior

Financial statements are those statements which are prepared at the end of the period. It includes…

Business

Accounting

Required: Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31; (b) the statement of retained earnings for the year ended December 31 [Note: Retained Earnings at December 31 of the prior year was $239,220]; and (c) the balance sheet as of December 31. Complete this question by entering your answers in the tabs below.

Required: Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31; (b) the statement of retained earnings for the year ended December 31 [Note: Retained Earnings at December 31 of the prior year was $239,220]; and (c) the balance sheet as of December 31. Complete this question by entering your answers in the tabs below.

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter22: End-of-fiscal-period Work For A Corporation

Section22.1: Preparing Adjusting Entries

Problem 1OYO

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