Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Below is Bretman Services financial accounting information for the year ending September 30, 2019. Using this information prepare the income Statement, Statement of Owners' Equity

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Below is Bretman Services financial accounting information for the year ending September 30, 2019. Using this information prepare the income Statement, Statement of Owners' Equity and then the Balance Sheet for the end of September 2019. Bretman Services Trial Balance September 30, 2019 Account Title Debit Credit Cash $22.480 Accounts Receivable 2.540 Prepaid Insurance 1.830 Equipment 7,000 Accumulated Depreciation 2.300 Accounts Payable 5,300 Unearned Revenue 1,000 Bank Loan 7,000 Service Revenue 16,100 Insurance Expense 1.280 Depreciation Expense 660 Rent Expense 1,060 Sataries Expense 1990 Telephone Expense 190 Note: Eston, Capital on October 1, 2018 was $12,000. During the year, the owner withdrew $6,000 for personal use. At the end of the year, the owner made an additional investment of $1,330, Do not enter dollar signs negative signs.se.commas in the input boxes Bretman Services Income Statement For the Year Ending September 30, 2019 Service Revenue Expenses Insurance Expense Depreciation Expense Rent Expense Salaries Expense Telephone Expense Total Expenses Net Income (Loss Bretman Services Statement of Owner's Equity For the Year Ending September 30, 2019 Eston, Capital at October 1, 2018 Add: Additional Investments Net Income (Loss) Subtotal Less: Eston Withdrawals Eston, Capital at September 30, 2019 Bretman Services Balance Sheet As at September 30, 2019 Assets: Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation Total Assets Liabilities Accounts Payable Uneamed Revenue Bank Loan

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

5. Describe the visual representations, or models, of communication

Answered: 1 week ago