Chart of Accounts Labols and Amount Descriptions I Incomo Statement nstructions \begin{tabular}{|c|c|c|c|c|c|c|} \hline Cash & 10,800 & & & & 10,800 & \\ \hline Accounts Receivable & 38,900 & & 5,000 & & 43,900 & \\ \hline Prepaid Insurance & 4,200 & & & 3,150 & 1,050 & \\ \hline Supplies & 2,730 & & & 2,180 & 550 & \\ \hline Land & 98,000 & & & & 98,000 & \\ \hline Builiding & 400,000 & & . & & 400,000 & \\ \hline Accumulated Depreciation-Bullding & & 205,300 & & 12,000 & & 217,300 \\ \hline Equipment: & 101,000 & & & & 101,000 & \\ \hline Accumviated Depreciation-Equipment & & 85,100 & & 4,800 & & 89,900 \\ \hline \end{tabular} Check My Work 5 more Check, My Work uses ramaining. All work swed. Chart of Accounts Labols and Amount Descriptions Income Statement Financiat statements and closing entries. instructoons Liehsit-Up Cempany Ked-ol-Pined 5preadaheat Fee Be Wear Ended Aoguat 31: 20Ys Neosuet Tise Dn. cr. De Cr Dr. or Cash 10,100 10,000 Ais wor sived CPrimaus Next 7 Aequired: 1. Prepare an income statement for the yoar ended August 31, 20vs. 2. Prepare a statement of stockholdens' equily for the year ended August 31, 20Y5. Durng the year, cammon stock af $25,000 was issued. 3. Prepare a balanoe sheet as of August 31,20Y5. 4. Based upon the end-of-period spresdsheet, foumatise the closing entries. 5. Propare a post clasing trial balance instructiong Chart of Accounts Labels and Amount Descriptions I Incomo Statement \begin{tabular}{|c|c|c|c|c|c|c|} \hline Advertising Expense & 30,700 & & & & 30,700 & \\ \hline Utilities Expense & 16,400 & . & & & 16,400 & \\ \hline Depreciation Expense-Bullding & & & 12,000 & & 12,000 & \\ \hline Repairs Expense & 8,850 & & & & 8,850 & \\ \hline Dopreciation Expense-Equipment & & & 4.800 & & 4,800 & \\ \hline Insurance Expense & & & 3,150 & & 3.150 & \\ \hline Supplies Expense & & & 2,180 & & 2,180 & \\ \hline Miscellaneous Expense & 4,320 & & & & 4,320 & \\ \hline & 945,300 & 945,300 & 32,130 & 32,130 & 971,200 & 971,200 \\ \hline \end{tabular} Check My Work , 5 more Chock My Work uses remaining. All work saved