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figure out what is missing please Required information Use the following information for Quick Studies below. (The following information applies to the questions displayed below.)
figure out what is missing please
Required information Use the following information for Quick Studies below. (The following information applies to the questions displayed below.) The following is the adjusted trial balance of Sierra Company Account Title Cash Prepaid insurance Notes receivable (due in 5 years) Buildings Accumulated depreciation-Buildings Accounts payable Notes payable (due in 3 years) #. Sierra, Capital H. Sierra, Withdrawals Consulting revenue Wages expense Depreciation expense-Buildings Insurance expense Totals Debit Credit $ 5,000 500 4,000 20,000 $12,000 2,500 3,000 10,500 1,000 9,500 3,500 2,000 1,500 $37,500 $37,500 QS 4-10 Preparing financial statements LO C2 Required information Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the year ended December 31. SIERRA COMPANY Income Statement Revenues: Consulting revenue 9,500 $ 9,500 Total revenue Expenses: Wages expense Depreciation expense-Buildings Insurance expense $ 3,500 2,000 1,500 Total expense Net Income 7,000 2,500 $ S Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a statement of owner's equity for the year ended December 31. Owner made no investments during the cur period. SIERRA COMPANY Statement of Owner's Equity H. Sierra, Capital, December 31 prior year end Add: Net income 10,500 2,500 13,000 (1,000) Less: Withdrawals H. Sierra, Capital, December 31 current year end $ 12,000 Step by Step Solution
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