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Homework answers / question archive / The adjusted trial balance of Nicks Financial Planners appears below and using the information from the adjusted trial balance, you are to prepare for the month ending December 31: 1

The adjusted trial balance of Nicks Financial Planners appears below and using the information from the adjusted trial balance, you are to prepare for the month ending December 31: 1

Accounting

The adjusted trial balance of Nicks Financial Planners appears below and using the information from the adjusted trial balance, you are to prepare for the month ending December 31:

1. an income statement;

2. a retained earnings statement; and

3. a balance sheet.

4. Closing Journal Entries

                                           NICKS FINANCIAL PLANNER

                                              Adjusted Trial Balance

                                                December 31, 2011

 

Debit                                     

Credit

Cash                                                                                                    

$ 16,400

 

Accounts Receivable

2,200

 

Office Supplies

1,800

 

Office Equipment                                                                                   

15,500

 

Accumulated Depreciation—Office Equipment                                                                                  

 

$4,000

Accounts Payable 

 

3,000

Unearned Service Revenue                                                                                                                      

 

5,000

Common Stock                                                                                                                                        

 

17,000

Retained Earnings                                                                                                                                    

 

7,400

Dividends 

2,500

 

Service Revenue                                                                                                                                       

 

7,500

Office Supplies Expense                                                                           

1,000

 

Depreciation Expense

2,500

 

Rent Expense                                                                                            

1,900

 $43,900                                                                                                            

                                                                      Total

$43,900

$43,900

                                                            

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