Business, 18.07.2020 19:01 raylynnreece4939

The following data were taken from the Adjusted Trial Balance columns of the end-of-period spreadsheet for April30 for Abigail Company: Accumulated Depreciation $42,400
Prepaid Rent 6,800
Supplies 850
Unearned Fees 7,310
Trucks 49,300
Cash 3,400
Common Stock 2,000
Retained Earnings ?
?
Prepare a classified balance sheet.
Indicate whether each of the following would be reported in the financial statements as a (a) current asset, (b)property, plant, and equipment, (c) current liability, (d) revenue, or (e) expense:
(1) Truck
(2) Accumulated depreciation
(3) Telephone expense
(4) Fees earned
(5) Wages payable
(6) Prepaid insurance
(7) Office supplies
(8) Dining expense
(9) Unearned rent
List and describe the purpose of the four closing entries.

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The following data were taken from the Adjusted Trial Balance columns of the end-of-period spreadshe...

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