McMinn Retail, Inc., is a retailer that has engaged you to assist in the preparation...
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Accounting
McMinn Retail, Inc., is a retailer that has engaged you to assist in the preparation of its financial statements at December 31, 2011. Following are the correct adjusted account balances, in alphabetical order, as of that date. Each balance is the normal balance for that account.
A. Prepare a statement of financial position (balance sheet) as of December 31, 2011, following these guidelines:
Include separate asset and liability categories for those assets which are current. Include and label amounts for total assets, total liabilities, total stockholders equity, and total liabilities and stockholders equity. Present deferred income taxes as a noncurrent liability. To the extent information is available that should be disclosed, include that information in your statement.
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