Question
I need help with the balance sheet and Income Statement. Using the following information, prepare a Balance Sheet and an Income Statement. Accounts Debit Credit
I need help with the balance sheet and Income Statement.
Using the following information, prepare a Balance Sheet and an Income Statement.
Accounts Debit Credit
Cash $15,000
Accounts Receivable 30,000
Prepaid Insurance 7,500
Office Supplies 3,200
Building 160,000
Accumulated DepreciationBuilding $12,000
Equipment 75,000
Accumulated DepreciationEquipment 8,500
Land 40,000
Accounts Payable 12,000
Salaries Payable 2,000
Unearned service revenue 25,000
Mortgage Payable 100,000
XXX Capital 21,290
XXX Withdrawals 23,000
Service Revenue 289,000
Salaries Expense 61,000
Depreciation ExpenseBuilding and Equipment 6,150
Office Supplies Expense 14,040
Insurance Expense 14,000
Utilities Expense 20,900 ________
Total $469,790 $469,790
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