Answered step by step
Verified Expert Solution
Question
1 Approved Answer
7. Below is the Adjusted Trial Balance for Bob's Auto Repai 2018. Please prepare rs for the 1 the Income Statement, Statement of Owner's Please
7. Below is the Adjusted Trial Balance for Bob's Auto Repai 2018. Please prepare rs for the 1 the Income Statement, Statement of Owner's Please provide the proper heading for each ner's Faumonths ending December 31 statement. Description Dr Cash 425,960.00 Accounts Receivable 15,000.00 Inventory Supplies 35,000.00 85,000.00 Prepaid Rent Expense 30,000.00 Prepaid Insurance Expense Equiment 25,000.00 45,000.00 Furniture 75,000.00 Computer 30,000.00 12,500.00 22,000.00 Accumulated Depreciation-Equipment Accumulated Depreciation-Furniture 18,000.00 Accumulated Depreciation-Computer Owner's Equity 100,000.00 25,000.00 Owner's Drawings 7,500.00 Accounts Payable 25,500.00 Wages & Salary Payable 15,000.00 Interest Payable 500,000.00 Long-Term Notes Payable 15,000.00 Unearned Revenue 758,000.00 Service Revenue 26,700.00 Rent Expense 35,980.00 Utility Expense Interest Expense 10,500.00 11,000.00 Insrance Expense Depreciation Expense-Equipment 12,500.00 22,000.00 Depreciation Expense-Furniture 18,000.00 Depreciation Expense-Computer 187,900.00 Supplies Expense 357,960.00 Wages & Salary Expense 1,473,500.00$ 1,473,500.00
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started