Answered step by step
Verified Expert Solution
Question
1 Approved Answer
how to prepare a income statement based on this chart how to prepare a balance statement based on this chart KARISE REPAIRS Adjusted Trial Balance
how to prepare a income statement based on this chart
how to prepare a balance statement based on this chart
KARISE REPAIRS Adjusted Trial Balance December 31 Account Title Debit Credit 101 Cash. $ 47, 000 124 Office supplies 1, 300 128 Prepaid insurance 2, 350 167 Equipment 56, 000 168 Accumulated depreciation-Equipment 5, 600 201 Accounts payable 13, 000 210 Wages payable 1, 000 301 C. Karise, Capital 39, 000 302 C. Karise, Withdrawals 17, 000 401 Repair fees earned 129, 150 612 Depreciation expense-Equipment 5, 600 623 Wages expense 39, 000 637 Insurance expense 800 640 Rent expense 11, 500 650 Office supplies expense 3, 700 690 Utilities expense 3, 500 Totals $187, 750 $187, 750 Note: C. Karise. Capital was $39,000 on December 31 of the prior year RequiredStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started