Financial Statements A work sheet for Megaffin's Repairs is shown. No additional investments were made by the owner during the month. Megaffin's Repairs Work Sheet For Month Ended January 31, 20- Trial Balance Adjustments Adjusted Trial Balance Account Title Debit Credit Debit Credit Debit Credit Debit Income Statement Credit D Cash 3,710.00 3,710.00 Accounts Receivable 1,460.00 1,460.00 Supplies Prepaid Insurance Delivery Equipment 400.00 310.00 90.00 890.00 240.00 650.00 3,250.00 3,250,00 Accumulated Depreciation-Delivery Equipment 60.00 Accounts Payable. Wages Payable Don Megaffin, Capital Don Megaffin, Drawing Repair Fees Wages Expense 1,210.00 60.00 1,210.00 410.00 410.00 7,566.00 7,566.00 1,000.00 1,000.00 5,200.00 5,200.00 5,200.00 2,130.00 410.00 2,540.00 2,540.00 Delivery Equipment Accumulated Depreciation-Delivery Equipment 3,250.00 60.00 Accounts Payable Wages Payable Don Megaffin, Capital Don Megaffin, Drawing Repair Fees Wages Expense 1,210.00 3,250.00 60.00 1,210.00 3,25 410.00 410.00 7,566.00 7,566.00 1,000.00 1,000.00 1,00 5,200,00 5,200.00 5,200.00 2,130.00 410.00 2,540.00 2,540.00 Advertising Expense Rent Expense Supplies Expense hone Expense 200.00 200.00 200.00 640.00 640.00 640.00 310.00 310.00 310.00 45.00 45.00 45.00 Insurance Expense 240.00 240.00 240.00 Gas and Oil Expense 210.00 210.00 210.00 Depreciation Expense-Delivery Equipment 60.00 60.00 60.00 Miscellaneous Expense 41.00 41.00 41.00 13,976.00 13,976.00 1,020.00 1,020.00 14,446.00 14,446.00 4,286.00 5,200.00 10,16 Net Income 914.00 5,200.00 5,200.00 10,16 15 egaffin's Repairs is shown. No additional investments were made by the owner during the month. Megaffin's Repairs Work Sheet For Month Ended January 31, 20- Trial Balance Adjustments Adjusted Trial Balance. Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit 3,710.00 3,710.00 3,710.00 ble 1,460.00 1,460.00 400.00 310.00 90.00 890.00 240.00 3,250.00 650.00 3,250.00 1,460.00 90.00 650.00 3,250.00 preciation-Delivery Equipment 60.00 60.00 60.00 1,210.00 1,210.00 1,210.00 410.00 410.00 410.00 apital 7,566,00 7,566.00 7,566.00 rawing 1,000.00 1,000.00 1,000.00 5,200.00 5,200.00 5,200.00 2,130.00 410.00 2,540.00 2,540.00 Check My Work eBook 1,210.00 1,210.001 410.00 410.00 apital 7,566.00 7,566.00 1,210.00 410.00 7,556.00 rawing 1,000.00 1,000.00 1,000.00 5,200.00 5,200.00 5,200.00 2,130.00 410.00 2,540.00 2,540.00 ense 200.00 200.00 200.00 640.00 640.00 640.00 310.00 310.00 310.00 45.00 45.00 45.00 ase 240.00 240.00 240.00 210.00 210.00 210.00 ense-Delivery Equipment 60.00 60.00 50.00 pense 41.00 41.00 41.00 13,976.00 13,976.00 1,020.00 1,020.00 14,446.00 14,446.00 4,286.00 5,200.00 10,160.00 9,246.00 914.00 5,200.00 914.00 5,200.00 10,160.00 10,160.00 2. Prepare a statement of owner's equity. Megaffin's Repairs Statement of Owner's Equity For Month Ended January 31, 20- Don Megaffin, capital, January 1, 20 Net income for January Less withdrawals for January Decrease in capital Don Megaffin, capital, January 31, 20- 0 00 Balance Sheet January 31, 20- Assets Current assets: Cash Accounts receivable Supplies Prepaid insurance Total current assets Property, plant, and equipment: Delivery equipment Less accumulated depreciation Total assets Liabilities Current liabilities: Accounts payable Wages payable Total current liabilities Owner's Equity Don Megaffin, capital