EQUILIBRIUM RIDING, INC.Unadjusted Trial BalanceAt December 31Account NameCashAccounts ReceivablePrepaid InsuranceEquipmentLandDebits$ 59,7503,3005,70064,60023,000Accounts PayableDeferred RevenueNotes Payable (long-term)Common StockRetained EarningsDividendsService RevenueSalaries and Wages ExpenseRepairs and Maintenance ExpenseOffice ExpensesTotalsRequired: Create Income statement & Balance sheetUsing the unadjusted trial balance provided, create a classified Balance Sheet and Income Statement for EquilibriumRiding, Inc., for the year ended December 31.0Credits13,900410270$ 29,2302,50074,0005,00014,50045,700$170,930 $170,930

Name: EQUILIBRIUM RIDING, INC.Unadjusted Trial BalanceAt December 31Account
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Description: EQUILIBRIUM RIDING, INC.Unadjusted Trial BalanceAt December 31Account NameCashAccounts ReceivablePrepaid InsuranceEquipmentLandDebits$ 59,7503,3005,70064,60023,000Accounts PayableDeferred RevenueNotes Payable (long-term)Common StockRetained Earnings

Financial statements is a accounting statements which shown Financial Position of the business. It…

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EQUILIBRIUM RIDING, INC. Unadjusted Trial Balance At December 31 Account Name Cash Accounts Receivable Prepaid Insurance Equipment Land Accounts Payable Deferred Revenue Notes Payable (long-term) Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Debits $ 59,750 3,300 5,700 64,600 23,000 0 13,900 410 270 Credits $ 29,230 2,500 74,000 5,000 14,500 45,700 Repairs and Maintenance Expense Office Expenses Totals Required: Create Income statement & Balance sheet Using the unadjusted trial balance provided, create a classified Balance Sheet and Income Statement for Equilibrium Riding, Inc., for the year ended December 31. $170,930 $170,930

EQUILIBRIUM RIDING, INC. Unadjusted Trial Balance At December 31 Account Name Cash Accounts Receivable Prepaid Insurance Equipment Land Accounts Payable Deferred Revenue Notes Payable (long-term) Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Debits $ 59,750 3,300 5,700 64,600 23,000 0 13,900 410 270 Credits $ 29,230 2,500 74,000 5,000 14,500 45,700 Repairs and Maintenance Expense Office Expenses Totals Required: Create Income statement & Balance sheet Using the unadjusted trial balance provided, create a classified Balance Sheet and Income Statement for Equilibrium Riding, Inc., for the year ended December 31. $170,930 $170,930

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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