Acg-2022 financial statement project – chiara company
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Write My Essay For MeACG-2022 Financial Statement ProjectThe adjusted trial balancefor Chiara Company as ofDecember 31, 2013,follows:DebitCashAccounts ReceivableInterest ReceivableNotes Receivable(due in 90 days)Office SuppliesAutomobilesAccumulated Depreciation – AutomobilesEquipmentAccumulated Depreciation – EquipmentLandAccounts PayableInterest PayableSalaries PayableUnearned FeesLong-term Notes PayableR. Chiara, CapitalR. Chiara, WithdrawalsFees EarnedInterest EarnedDepreciation Expense – AutomobilesDepreciation Expense – EquipmentSalaries ExpenseWages ExpenseInterest ExpenseOffice Supplies ExpenseAdvertising ExpenseRepairs Expense – AutomobileTotals30,00052,00018,000168,00016,000168,000138,00078,00046,00026,00018,000188,00040,00032,00034,00058,00024,800$1,134,800Required:1. Use the information in the adjusted trial balance to prepare (a) the income statement forthe year ended December 31, 2013; (b) the statement of owner’s equity for the yearended December 31, 2013; and (c) the balance sheet as of December 31, 2013.2. Calculate the profit margin for year 2013.
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