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The adjusted trial balance for Smith construction for the period ending May 31 2010 is as follows:

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The adjusted trial balance for Smith construction for the period ending May 31 2010 is as follows;Smith Construction;Adjusted Trial Balance;31-May;Account Debit Credit;10. Cash 47,240;12. Accounts Receivable 8,080;13. Prepaid Insurance 1,000;14. Supplies 700;16. Equipment 24,000;17. Accumulated Depreciation equipment 2,400;18. Tools 1,200;20. Accounts Payable 200;22. Unearned Revenue 2,000;24. Wages Payable 1,000;30. Common Stock 42,500;32. Dividends 3,900;40. Service Revenue 56,700;50. Salary Expense 11,780;51. Depreciation Expense 2,400;52. Rent Expense 2,000;54. Repair Expense 1,000;56. Supplies Expense 800;57. Insurance Expense 500;59. Utilities Expense 200;Total 104,800 104,800;Requirements;1. Prepare the Income Statement for the period ending May for Smith Construction.;2. Prepare the Statement of Retained Earnings for Smith Construction for the Month of May.;3. Prepare the Balance Sheet for Smith Construction as of May 31, 2010.;4. Prepare the three closing entries.;5. Prepare the Post Closing Trial Balance.

 

Paper#79878 | Written in 18-Jul-2015

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