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Posted on Jul 12, 2024

+ Ch 4 HW Problems 20/30 Question 6 of 6 The completed financial statement columns of the spreadsheet for Wildhorse Company are shown as follows:

+ Ch 4 HW Problems 20/30 Question 6 of 6 The completed financial statement columns of the spreadsheet for Wildhorse Company are shown as follows: Wildhorse Company Worksheet For the Year Ended December 31, 2022 Income Statement Balance Sheet Account No. . Dr. Dr. Cr. Account Titles 8.700 101 Cash 10,700 112 Accounts Receivable 130 2.700 Prepaid Insurance 23.500 157 4,300 158 9.200 201 2.200 212 Equipment Accumulated Depreciation-Equip. Accounts Payable Salaries and Wages Payable Owner's Capital Owner's Drawings Service Revenue 301 19,200 306 11.100 400 59,800 622 Maintenance and Repairs Expense 1,800 711 2.900 Depreciation Expense Insurance Expense 722 1,800 726 Salaries and Wages Expense 29.900 732 Utilities Expense 1,600 Totals 38,000 59,800 56.700 34,900 Net Income 21,800 21,800 59,800 59,800 56,700 56,700 Ch 4 HW Problems Question 6 of 6 20/30 Prepare an income statement. (Enter negative amounts using either a negative sign preceding the number e.3.-45 or parentheses e.s. (45).) WILDHORSE COMPANY Income Statement For the Year Ended December 31, 2022 cand Repairs Exbone 1800 on Expense 2900 i Expense 1800 i d Wases Expense 29900 De 1600 3800 (Loss) 21800 eTextbook and Media Solution List of Accounts Your answer is correct. Prepare an owner's equity statement. (List items that increase owner's equity first.) WILDHORSE COMPANY Owner's Equity Statement For the Year Ended December 31, 2022 Owner's Capital, January 1 19200 Add Net Income /(Loss) 21800 41000 Less Drawings 11100 Owner's Capital, December 31 29900 e Textbook and Media List of Accounts Attempts: 2 of 3 used Enter the balances from the adjusted trial balance and post the closing entries and calculate the balances of the accounts (Post entries in the order of journal entries presented in the previous part.) Owner's Capital No. 301 12/31 12/31 Bal 12/31 Bal 12/31 21800 1/1 Bal Owner's Drawings No. 306 Income Summary No. 350 Service Revenue No. 400 Maintcoance and Repairs Expense No. 622 Maintenance and Repairs Expense No. 622 Depreciation Expense No. 711 Insurance Expense No. 722 Salaries and Wages Expense No, 726 Utilities Expense No. 732 e Textbook and Media List of Accounts Save for Later + Ch 4 HW Problems 20/30 Question 6 of 6 The completed financial statement columns of the spreadsheet for Wildhorse Company are shown as follows: Wildhorse Company Worksheet For the Year Ended December 31, 2022 Income Statement Balance Sheet Account No. . Dr. Dr. Cr. Account Titles 8.700 101 Cash 10,700 112 Accounts Receivable 130 2.700 Prepaid Insurance 23.500 157 4,300 158 9.200 201 2.200 212 Equipment Accumulated Depreciation-Equip. Accounts Payable Salaries and Wages Payable Owner's Capital Owner's Drawings Service Revenue 301 19,200 306 11.100 400 59,800 622 Maintenance and Repairs Expense 1,800 711 2.900 Depreciation Expense Insurance Expense 722 1,800 726 Salaries and Wages Expense 29.900 732 Utilities Expense 1,600 Totals 38,000 59,800 56.700 34,900 Net Income 21,800 21,800 59,800 59,800 56,700 56,700 Ch 4 HW Problems Question 6 of 6 20/30 Prepare an income statement. (Enter negative amounts using either a negative sign preceding the number e.3.-45 or parentheses e.s. (45).) WILDHORSE COMPANY Income Statement For the Year Ended December 31, 2022 cand Repairs Exbone 1800 on Expense 2900 i Expense 1800 i d Wases Expense 29900 De 1600 3800 (Loss) 21800 eTextbook and Media Solution List of Accounts Your answer is correct. Prepare an owner's equity statement. (List items that increase owner's equity first.) WILDHORSE COMPANY Owner's Equity Statement For the Year Ended December 31, 2022 Owner's Capital, January 1 19200 Add Net Income /(Loss) 21800 41000 Less Drawings 11100 Owner's Capital, December 31 29900 e Textbook and Media List of Accounts Attempts: 2 of 3 used Enter the balances from the adjusted trial balance and post the closing entries and calculate the balances of the accounts (Post entries in the order of journal entries presented in the previous part.) Owner's Capital No. 301 12/31 12/31 Bal 12/31 Bal 12/31 21800 1/1 Bal Owner's Drawings No. 306 Income Summary No. 350 Service Revenue No. 400 Maintcoance and Repairs Expense No. 622 Maintenance and Repairs Expense No. 622 Depreciation Expense No. 711 Insurance Expense No. 722 Salaries and Wages Expense No, 726 Utilities Expense No. 732 e Textbook and Media List of Accounts Save for Later