Question
can someone check this work for me and let me know if this wrong if so help me correct them. At the end of the
can someone check this work for me and let me know if this wrong if so help me correct them.
- At the end of the year, December 31, 2017, Landscape Design Company had the following account balances:
Cash $19,472
Accounts Receivable 6,920
Prepaid Insurance 2,280
Delivery Truck 13,155
Accounts Payable 11,255
Beginning Balance Owner's Capital 31,310
Owner's Withdrawl 3,000
Contract revenue 11, 590
Salaries expense 6,840
Rent Expense 2,260
Fuel expense 145
Interest Expense 83
Prepare an income statement, a statement of owners' equity, and a balance sheet for Landscape
Landscape Design Company
Income Statement
At the end of the year, December 31, 2017
Contract revenue |
| 11, 590 |
Expenses: |
|
|
salaries expense | 6,840 |
|
Rent Expense | 2,260 |
|
Fuel expense | 145 |
|
Interest Expense | 83 |
|
Total expenses |
| 9328 |
Net Income |
| 2262 |
Landscape Design Company
Statement of owners Equity
At the end of the year, December 31, 2017
Beginning Balance Owner's Capital | 31,310 |
Less Withdrawal | -3,000 |
Net income | 2262 |
closing | 30572 |
Landscape Design Company
Balance Sheet
At the end of the year, December 31, 2017,
Assets | Amount |
Cash | 19,472 |
Accounts Receivable | 6,920 |
Prepaid Insurance | 2,280 |
Delivery Truck | 13,155 |
Total Assets | 41827 |
Liabilities | Amount |
Account Payable | 6,920 |
Owners Equity |
|
Beginning | 31,310 |
Less withdrawal | -3,000 |
Net income | 2262 |
Equity and Liabilities | 37492 |
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