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help me please to find out the errors in the statements below. this actually my last question. Req 1A Req 1B Req 1C Prepare the
help me please to find out the errors in the statements below.this actually my last question.
Req 1A Req 1B Req 1C Prepare the income statement for the year ended December 31, 2017. CHIARA COMPANY Income Statement For Year Ended December 31, 2017 Revenues $ 544,000 20,000 Fees earned Interest earned Total revenues $ 564,000 Expenses Salaries expense Wages expense Interest expense Office supplies expense Advertising expense Repairs expense-Automobiles 31,800 Depreciation expense-Automobiles27,500 Depreciation expense-Equint 22,000 185,000 41,000 33,200 33,600 57,500 431,600 $ 132,400 Total expenses Req 1A Req 1B > Required 1(a) Prepare the income statement for the year ended December 31, 2017. 1(b) Prepare the statement of owner's equity for the year ended December 31, 2017. 1(c) Prepare Chiara Company's balance sheet as of December 31, 2017. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 1C Prepare the statement of owner's equity for the year ended December 31, 2017 CHIARA COMPANY Statement of Owner's Equity For Year Ended December 31, 2017 R. Chiara, Capital, December 31, 2016 Add: Net income 132,400 132,400 46,000 S 86,400 Less: Withdrawals by owner R. Chiara, Capital, December 31, 2017 K Req 1A Req 1C The adjusted trial balance for Chiara Company as of December 31, 2017, follows. Debit Credit Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) Office supplies Automobiles Accumulated depreciation-Automobiles Equipment Accu Land Accounts payable Interest payable Salaries payable Unearned fees Long-term notes payable R. Chiara, Capital R. Chiara, Withdrawals Fees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense Office supplies expense Advertising expense Repairs expense-Automobiles Totals $ 154,100 54,500 21,600 172,000 16,000 174,000 $80,000 136,000 mulated depreciation-Equipmen 23,000 80,000 95,000 15,000 23,000 44,000 156,000 285,800 46,000 544,000 20,000 27,500 22,000 185,000 41,000 33,200 33,600 57,500 31,800 $1,285,800 $1,285,800Step by Step Solution
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