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Based on the data below, complete an Income Statement, Statement of Owners Equity, and Balance Sheet for Doe, Inc. (75 points): Cash = $91,000 Accounts
- Based on the data below, complete an Income Statement, Statement of Owners Equity, and Balance Sheet for Doe, Inc. (75 points):
Cash = $91,000
Accounts Receivable = $109,000
Supplies = $20,000
Equipment = $180,000
Accumulated Depreciation Equipment = $20,000
Doe, Capital = $201,000
Service Fees = $380,000
Doe, Drawing = $1000
Rent Expense = $70,000
Supplies Expense = $10,000
Depreciation Expense Equipment = $20,000
Wage Expense = $90,000
Accounts Payable = $100,000
Advertising Expense = $50,000
Utilities Expense = $60,000
- Based on the data below, journalize the four closing entries (25 points):
Service Fees = $600,000
Rent Expense = $40,000
Advertising Expense = $60,000
Wage Expense = $100,000
Utilities Expense = $40,000
Drawing = $2000
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