1. Complete the worksheet.
			Adjusted Trial Balance		Income Statement		Balance Sheet and Statement of Own Equity
Account
			Debit	Credit	Debit	Credit	Debit	Credit
Cash			95,600
Notes receivable (current)			50,000
Prepaid Insurance			16,000
Prepaid Rent			4,000
Equipment			170,000
Accumulated depreciation-equip				57,000
Accounts Payable				52,000
Long-term notes payable				63,000
C. Trout, Capital				178,500
C Trout, Withdrawals			30,000
Repair Service Revenue				180,800
Interest Revenue				7,500
Depreciation Expense - Equipment			28,500
Wages Expense			85,000
Rent Expense			48,000
Insurance Expense			6,000
Interest Expense			5,700
Totals:			538,800	538,800
Net Income
TOTALS:
2. Closing Entries
Date	Account Title					DR	CR
(3.).		Income Summary				C.Trout, Capital
(4)..
(5..)					Midtown Repair Company
					Balance Sheet
					31--15
					ASSETS
Current Assets
	Total Current Assets
Plant Assets
	Total Plant Assets
	TOTAL ASSETS:
					LIABILITIES
Current Liabilities
Long-term liabilities
TOTAL LIABILITIES
					EQUITY
TOTAL LIABILITIES AND EQUITY

1. Complete the worksheet. Balance Sheet and Statement of Own Equit Adjusted Trial Balance Income Statement Account Debit Credit Debit Credit Debit Credit 95,600 50,000 16,000 4,000 170,000 Cash Notes receivable (current Prepaid Insurance Prepaid Rent Equipment Accumulated depreciation-equip Accounts Payable Long-term notes payable C. Trout, Capital C Trout, Withdrawals Repair Service Revenue Interest Revenue Depreciation Expense - Equipment Wages Expense Rent Expense Insurance Expense Interest Expense Totals Net Income TOTALS: 57,000 52,000 63,000 178,500 30,000 180,800 7,500 28,500 85,000 48,000 6,000 5,700 538,800 538,800 2. Closing Entries Date Account Title DR CR