CRANE CYCLE REPAIR SHOP Trial Balance January $31,2024$

Debit

Credit

Cash

$$5,600$

Accounts receivable

$9,030$

Prepaid insurance

$8,820$

Supplies

$7,640$

$52,400$

Land

Building

$192,400$

Accumulated depreciation$-$building

$$11,140$

Equipment

$28,530$

Accumulated depreciation$-$equipment

$4,755$

Accounts payable

$8,800$

Unearned revenue

$24,350$

Mortgage payable

$184,320$

H$.$ Young, capital

$63,400$Question $1$ of $2$

H$.$ Young, drawings

Service revenue

$<$

$<$

$103,500$

$251,165$

Salaries expense

$117,600$

Utilities expense

$14,400$

Interest expense

$8,010$

$$547,930$

$$547,930$

Additional information:

$1.$ The $12-$month insurance policy was purchased on June $1,2023.$

$2$ A physical count of supplies shows $$1,550$ on hand on January $31,2024.$

$3.$ The building has an estimated useful life of $50$ years. The equipment has an estimated useful life of nir years.

$4.$ The mortgage payable has a $5\%$ interest rate. Interest is paid on the first day of each month for the previous month's interest.

$5.$ By January $31,2024,$ $$1,540$ of services related to the unearned revenue have been provided.

$6.$ During the next fiscal year, $$4,740$ of the mortgage payable is to be paid.

Prepare a statement of owners equity.the owner, Henry young, invested $$15240$ cash in business on November $17,2023$