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Question 2 The adjusted trial balance for Ivanhoe Company is given below: Dr. IVANHOE COMPANY Trial Balance August 31, 2017 Before Adjustment Cr. Cash $10,870 Accounts Receivable 9,240 Supplies 2,980 Prepaid Insurance 4,300 Equipment 16,910 Accumulated Depreciation-Equipment $3,805 Accounts Payable 5,270 Salaries and Wages Payable Unearned Rent Revenue 1,900 Common Stock 11,540 Retained Earnings 5,790 Dividends 2,740 Service Revenue 33,420 Rent Revenue 13,760 Salaries and Wages Expense 16,250 Supplies Expense Rent Expense 12,195 Insurance Expense Depreciation Expense $75,485 $75,485 After Adjustment Dr. Cr. $10,870 9,950 1,500 2,930 16,910 $5,005 5,270 1,480 990 11,540 5,790 2,740 34,130 14,670 17,730 1,480 12,195 1,370 1,200 $78,875 $78,875 Income Statement Retained Earnings Statement Prepare the classified balance sheet at August 31. (List Current Assets in order of liquidity.) Balance Sheet Assets Liabilities and Stockholders' Equity Show transcribed image text
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