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4. Using the information presented below, prepare a statement of owner's equity and balance sheet from the adjusted trial balance of Hanson Storage. Ms. Hanson's
4. Using the information presented below, prepare a statement of owner's equity and balance sheet from the adjusted trial balance of Hanson Storage. Ms. Hanson's capital account balance of $40,340 consists of a $30,340 beginning-year balance plus a $10,000 investment during the current year. (14%) HANSON STORAGE Adjusted Trial Balance December 31 $ 3,050 4 400 830 80 4.200 $ 1.100 98.000 28.000 115,000 Cash Accounts receivable. Prepaid insurance Office supplies Office equipment Accumulated depreciation-office equipment Buildings...... Accumulated depreciation-buildings. Land Wages Payable.. Property taxes payable, Interest payable. Unearned rent.... Long-term notes payable. Mary Hanson. Capital Mary Hanson, Withdrawals Rent earned Wages expense Utilities expense Property taxes expense Insurance expense.... Office supplies expense. Depreciation expense-office equipment. Depreciation expense-buildings... Interest expense ......... Totals 880 1,400 2.200 460 150.000 40.340 21,000 57.500 25.000 1,900 2,400 800 250 400 5.570 3.000 $281.880 $281.880
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