Below is the year-end adjusted trial balance for Majeau Accounting. The bookkeeper prepared it in alphabetical order. This is Majeaus first year of operations.

REQUIRED:

Prepare an income statement, statement of changes in equity and a balance sheet. There is a template provided that you can use to answer this question.

Majeau Accounting Trial Balance December 31, 20XX Account Dr. Cr. Accounting fees earned Accounts receivable Accumulated depreciation, equipment Cash Depreciation expense Equipment Insurance expense Land Lucie Majeau, capital Lucie Majeau, withdrawals Notes payable Office supplies Office supplies expense Prepaid insurance Rent expense Repairs expense Salaries payable Unearned accounting fees Totals 45,000 3,200 $16,000 $4,000 10,000 50,000 12,000 100,000 111,800 5,000 21,800 100 1300 1,000 20,800 1,200 11,000 3,000 $208,600 $208,600