Below you will find a list of accounts in alphabetical order as of December 31, 2020 for GBC Inc. The debits equal the credits, so this could be taken as a random trial balance of sorts. 

 

Accounts payable.       3,300.    Prepaid rent              800

Accounts receivable.   5,000.    Rent expense.        4,500 C. 

Pettipas, capital.        22,500.     Salaries expense   1,000 C.

 Pettipas, drawings.       1,100.     Service revenue.    8,000

 Cash.                            6,400.      Supplies.                    650 

Equipment.                  14,600.       Unearned revenue.   250 

 

Required: prepare the three financial statements: Income Statement, Statement of Owner Equity and a Balance sheet in good form.