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City Movers had the following account balances, in random order, on December 31, 2020. Additional Information: During the year, Sam Chiang invested $15,000 into the
City Movers had the following account balances, in random order, on December 31, 2020.
Additional Information:
- During the year, Sam Chiang invested $15,000 into the business.
- $7,500 of the notes payable is due this year.
Required:
- Prepare an income statement for City Movers for the year ended December 31, 2020.
- Prepare a statement of owners equity for City Movers for the year ended December 31, 2020.
- Prepare a classified balance sheet at December 31, 2020.
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