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Assume the worksheet for Jason Taylor, Counselor and Attorney-at-Law, showed the following accounts and balances on January 31, 20X1 (the first month of operation), as
Assume the worksheet for Jason Taylor, Counselor and Attorney-at-Law, showed the following accounts and balances on January 31, 20X1 (the first month of operation), as reflected below. Cash Accounts receivable Supplies Prepaid rent Equipment Accumulated depreciation-Equipment Accounts payable Jason Taylor, Capital Jason Taylor, Drawing Fees income Rent expense 11,230 10,750 13,800 24,900 20,900 490 17,100 79,500 10,900 48,475 6,900 13,300 32,395 498 Supplies expense Salaries expense Depreciation expense-Equipment Assume all accounts have normal balances. Complete the Income Statement and Balance Sheet sections of the worksheet.
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