Chapter 6: Financial Statements and the Closing P..X Chapter Conter AAA Series A Exercises E 6-1A Income Statement (LO1) From the partial work sheet for Major Advising SHOW HOW below, prepare an income statement. Answer Check Figure: Net income: $2,220 E 6-2A Statement of Owner's Equity (LO1) From the partial work sheet below, prepare a SHOW HOW statement of E 6-3A Balance Sheet (LO1) From the XS partial work sheet below, prepare a balance sheet. (FOR EXERCISES 6- 1A, 6-2A, 6-3A, AND SHOW 6-4A) HOW ACCOUNT 1 Cash 2 Accounts Receivable 3 Supplies 4 Prepaid Insurance S Office Equipment 6 Accum. Depr-Office Equipment Major Advising Work Sheet (Partial) For Month Ended January 31, 20 - BALANCE SHEET INOME STATEMENT ACCOUNT ITLE DENT RED DE REDE 1339 00 9 35 00 3 46 00 1 Cash 2 Accounts Receivable 3 Supplies 4 Prepaid Insurance SOffice Equipment 6 Accum. Depr-Offie Equipment 1 2 3 8 00 00 3500 00 5 | 2 00 00 6 1000 00 7 3 00 008 4100 009 7 Accounts Payable 8 Wages Payable 9 Ed Major, Capital 10 Ed Major, Drawing 11 Advising Fees 12 Wages Expense 13 Advertising Expense 14 Rent Expense 15 Supplies Expense 16 Phone Expense 17 Electricity Expense 18 Insurance Expense 19 Gas and Oil Expense 20 Depr. Expense-Office Equipment 21 Miscellaneous Expense 22 23 Net Income 900 00 10 4 140 00 11 700 00 12 13 SO0 00 150 00 6 7 00 14 15 16 4 8 00 89 00 53 00 200 00 23 00 1920 00 4 1 40 00 2220 00 41 4000 17 18 19 20 21 782000 5600 00 22 2220 00 23 820100| 24 8200 4140 00 24 Share... Add to Photos