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A. Perform the trial balance. B. Prepare the income statement. C. Prepare the statement of owner's equity. D. Prepares the statement of owner's equity (balance
A. Perform the trial balance. B. Prepare the income statement. C. Prepare the statement of owner's equity. D. Prepares the statement of owner's equity (balance sheet).
At Camino Real, Inc. the account balances are as follows:
Cuenta | Balance |
cash | 425,000 |
prepaid insurance | 14,000 |
supplies | 15,000 |
equipment | 27,000 |
accounts receivable | 123,000 |
notes payable | 53,600 |
accounts payable | 26,500 |
Carmelo Ruiz, capital | 228,100 |
Carmelo Ruiz, drawing | 20,000 |
fee earned | 896,300 |
utilities expense | 9,000 |
salary expense | 536,000 |
advertising expense | 3,500 |
rent expense | 32,000 |
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