Question
Davidson Company was started on May 1, 2021 by Jane Davidson. Using the adjusted account balances below, prepare IN GOOD FORM the Income Statement, Owners
Davidson Company was started on May 1, 2021 by Jane Davidson. Using the adjusted account balances below, prepare IN GOOD FORM the Income Statement, Owners Equity Statement and Balance Sheet for the month ended May 31, 2021. Advertising Expense 6,000 Accounts Payable 10,000 Accounts Receivable 15,400 Accumulated Depreciation: Equipment 8,000 Cash 10,300 Depreciation Expense 14,000 Equipment 34,000 Insurance Expense 3,200 Interest Expense 2,800 Notes Payable 12,000 Prepaid Insurance 2,600 Rent Expense 3,000 Salaries Expense 39,000 Salaries Payable 7,500 Service Revenue 90,000 Miscellaneous Expense 2,000 Owners Capital 20,000 Owners Drawing 10,000 Supplies 2,500 Supplies Expense 5,700 Unearned Revenue 5,000
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