I need a single step income statement, statement of owners equity, classified balance sheet, and post-closing trial balance. The adjusted trial balance has been attached.
Account Title Trial Balance Dr. Cash Adjustments Cr. Dr. Adjusted Trial Balance Dr. Cr. $29,343 $29,343 Accounts Receivable Prepaid Rent 4,200 4,200 3,600 c) 900 2,700 Prepaid Insurance 2,400 b) 200 2,200 Photographic Supplies Office Supplies 1,064 d) 749 315 230 e) 105 Land 7,500 7,500 Photographic Equipment Office Equipment 52,900 52,900 29,000 29,000 Vehicle 12,500 Accounts Payable 12,500 $ Notes Payable Unearned Photographic Service Revenue Philip Browning, Capital Philip Browning, Withdrawals Photographic Service Revenue Salary Expense 125 7,930 20,000 6,000 a) 500 97,500 1,000 1,000 16,750 a) 500 3,500 i) 350 3,850 Utilities Expense 275 275 Gas and Oil Expense Janitorial Expense 200 200 100 100 Advertising Expense Miscellaneous Expense Total 350 350 18 18 $148,180 $148,180 Insurance Expense Rent Expense Account Title b) 200 c) 900 Trial Balance Dr. Cr. 200 900 Adjustments Dr. Cr. Dr. Cr. Photographic Supplies Expense Office Supplies Expense d) 749 749 e)105 105 Depreciation ExpPhoto Equip Accum DepPhoto Equip f) 400 400 Depreciation ExpOffice Equip Accum DepOffice Equip g) 250 Depreciation Exp--Vehicle h) 500 f) 400 g) 250 Accum DepVehicle 500 i) 350 j) 100 Interest Payable Totals Net Income 250 500 h) 500 Salary Payable Interest Expense 400 250 350 100 j) 100 $4,054 $4,054 100 $149,780 $149,780 Cr Total Single Step Income Statement Revenues: Photographic Service Revenue $16,750 Expenses: Salary Expense $350 Utilities Expense $275 Gas and Oil Expense $200 Janitorial Expense $100 Advertising Expense $350 Photographic Supplies Expense $749 Insurance Expense $200 Rent Expense $900 Office Supplies Expense $105 Depreciation ExpPhoto Equip $400 Depreciation ExpOffice Equip $250 Depreciation Exp--Vehicle $500 Interest Expense $100 Miscellaneous Expense Total Expenses Net Income $18 $4,497 $12,253 Statement of Owner's Equity Philip Browning, Capital - Year Start $85,247 (difference) Add: Net Income $12,253 Total $97,500 Less: Philip Browning, Withdrawals $1,000 Philip Browning, Capital - Year end $96,500 Classified Balance Sheet ASSETS Current Assets Cash $29,343 Accounts Receivable $4,200 Prepaid Rent $2,700 Prepaid Insurance $2,200 Photographic Supplies $315 Office Supplies $125 Total Current Assets $38,883 Property, Plant and Equipment Land $7,500 Photographic Equipment $52,900 Accumulate Depreciation - Photographic Equipment -$400 Net Photographic Equipment $52,500 Office Equipment $29,000 Accumulate Depreciation - Office Equipment -$250 Net Office Equipment $28,750 Vehicle $12,500 Accumulate Depreciation - Vehicle -$500 Net Vehicle $12,000 Net Property, Plant and Equipment $100,750 TOTAL ASSETS $139,633 LIABILITIES AND OWNER'S EQUITY LIABILITIES Current Liabilities Accounts Payable $7,930 Notes Payable $20,000 Salary Payable $350 Interest Payable $100 Unearned Photographic Service Revenue $5,500 Total Current Liabilities $33,880 TOTAL LIABILITIES $33,880 OWNER'S EQUITY Philip Browning, Capital Retained Earnings $96,500 $9,253 TOTAL OWNER'S EQUITY $105,753 TOTAL LIABILITIES AND OWNER'S EQUITY $139,633 Post-Clsoing Trial Balance Account Title Dr. Cr. Cash $29,343 Accounts Receivable $4,200 Prepaid Rent $2,700 Prepaid Insurance $2,200 Photographic Supplies $315 Office Supplies $125 Land $7,500 Photographic Equipment $52,900 Office Equipment $29,000 Vehicle $12,500 Accumulate Depreciation - Photographic Equipment $400 Accumulate Depreciation - Office Equipment $250 Accumulate Depreciation - Vehicle $500 Accounts Payable $7,930 Notes Payable $20,000 Salary Payable $350 Interest Payable $100 Unearned Photographic Service Revenue $5,500 Philip Browning, Capital Philip Browning, Withdrawals $97,500 $1,000 Retained Earnings Total $9,253 (difference) $141,783 $141,783
