Onestion 2 (25 marks) The financial year-end of Talent Agency Company Limited ("Talent') is 31 March. Below it the Adjus

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Onestion 2 25 Marks The Financial Year End Of Talent Agency Company Limited Talent Is 31 March Below It The Adjus 1 (123.57 KiB) Viewed 36 times

Onestion 2 (25 marks) The financial year-end of Talent Agency Company Limited ("Talent') is 31 March. Below it the Adjusted Tnal Balance of Talent as at 31 March 2021. Talent Agency Company Limited Adjusted Trial Balance 31 March 2021 Credit $ Debit $ 15,330 35,300 1,200 375 900 15,000 800 Cash Fees receivable Prepaid rent Unexpired insurance policies Office supplies Office equipment Dividends Accumulated depreciation office equipment Accounts payable Notes payable (due on 1 March 2022) Income tax payable Unearned agency fees Share capital Retained earnings Agency fees earned Depreciation expense: office equipment Rent expense Insurance expense Office supplies expense Salaries expense Income taxes expense 12,000 1,400 6,000 3,200 8,000 20,000 ??? 46,500 2,750 6,100 1,175 1,130 24,640 3,200 Required: With reference to the information provided in the Adjusted Trial Balance of Talent, (a) prepare the Statement of Financial Position in proper format, and (12 marks) () perform the necessary year-end closin (13 marks) K