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Dubai Doughnuts had the following financial information for 2021: 12/31/2021 Accounts Payable $10,000 Unearned Revenue 1,000 Accounts Receivable 15,000 Advertising Expense 5,000 Cash 11,000
Dubai Doughnuts had the following financial information for 2021: 12/31/2021 Accounts Payable $10,000 Unearned Revenue 1,000 Accounts Receivable 15,000 Advertising Expense 5,000 Cash 11,000 Prepaid Rent 3,500 Owner's Capital ? Owner's Drawings 9,000 Equipment 18,000 Delivery vehicles 15,000 Notes Payable (Due 2025) 20,000 Rent Expense 5,000 Salaries and Wages Expense 6,000 Sales Revenue 13,000 Baking Lesson Tuition Received 10,000 Utilities Expense 2,500 **Owner's capital at the beginning of 2021 was $21,000 Required: Prepare an Income Statement in good form for the year.
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