Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Account title Finders Investigative services End-of-period spreadsheet For the year ended June 30, 2013 Adjusted trial balance dr cr Cash 28,000 Accounts 69,600 receivable
Account title Finders Investigative services End-of-period spreadsheet For the year ended June 30, 2013 Adjusted trial balance dr cr Cash 28,000 Accounts 69,600 receivable supplies 4,600 Prepaid insurance 2,500 building 439,500 Accumulated 44,200 depreciation- building Accounts payable Salaries payable Unearned rent 11,700 3,000 2,000 373,800 Stacy tanner, capital Stacy tanner, drawing 12,000 Services fees 718,000 Rent revenue 12,000 Salaries expense 522,100 Rent expense 48,000 Supplies expense 10,800 Depreciation 8,750 expense-building utilities expense 7,150 Repairs expense 3,000 Insurance expense 2,500 Miscellaneous 6,200 expense 1,164,700 1,164,700 1. Prepare an income statement, a statement of owner's equity (no additional investments were made during the year), and a balance sheet. 2. Journalize the entries that were required to close the accounts at June 30. 3. If Stacy tanner, capital has instead decreased $30,000 after the closing entries were posted, and the withdrawals remained the same, what would have been the amount of net incomer or net loss? "Be sure to read the instructions for each financial statement carefully.
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