File Question 51 Chapter 3 Practice - WordPad Home View 11 ' ' 2 Paragraph Paste * Cut Copy Clipboard Calibri - BIU abe x, x Font H Type here to search Picture Paint Date and Insert drawing time object Insert 2 Owner's Capital 45,280 Service Revenue 94,790 Rent Expense 9,100 Salaries and Wages Expense 29,850 Utilities Expenses 1,080 Office Expense 660 $152,270 $152,270 Find Replace Select all Editing 3 Fees received in advance from clients $4,300, which were recorded as revenue. 2. Services performed for clients that were not recorded by December 31, $4,200. 3. Equipment is being depreciated at 8% per year. Bad debt expense for the year is $1,300. 5. Insurance expired during the year $540. 6. Sarasota gave the bank a 90-day, 596 note for $4,800 on December 1, 2020. 7. Rent of the building is $700 per month. The rent for 2020 has been paid, as has that for January 2021. 8. Office salaries and wages earned but unpaid December 31, 2020, $1,490. Sarasota withdrew $11,500 cash for personal use during the year. SARASOTA Statement of Owners' Equity For the Year Ended December 31, 2020 Onver's Capital, January 1 Add Net Income/(Loss) Less Owner's Drawings Owner's Capital, December 31 qb 49310 11500 83090 5 7 0 100% 74F ENG 12:41 PM 9/30/2022 12