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Exercise 1 (9 pts) CAP2000 is a service company focused on events such as industry conferences and weddings. The proprietor asks you to prepare the
Exercise 1 (9 pts) CAP2000 is a service company focused on events such as industry conferences and weddings. The proprietor asks you to prepare the three financial statement of its company for 2019. The balance of David, Capital was $50 500 at December31, 2018. At December 31, 2019, the business's accounting records show these balances : 8 000 Insurance Expense Trade accounts receivable 21 000 Prepaid expenses 70 000 Rent expense 78 000 Notes payable 6 000 Cash 40 000 Trade accounts Payable 12 000 Deferred revenues 14 000 63 000 150 000 Advertising Expense Service revenue David, Withdrawals Freight expense Building 105 000 2 400 | Salaries expenses 280 000 Machinery 42 000 Owner contribution, 2019 30 000 | Taxes and similar expenses 12 000 Exceptional expenses 14 000 Telecommunication expenses 30 000 6 000 Interest revenue 3 600 Exceptional revenues 10 500 Interest expenses 4 500 Prepare the following financial statements by respecting the accounting standards Income statement for the period ended 31st, 2019 Statement of owner's equity for the period ended 31st, 2019 Balance sheet at December 31st, 2019. 6
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