income statement

II. Direction classify each account listed below as assets (A), liabilities (L), owner's equity (OE), revenue (R), or expenses (E). Indicate the normal debit or credit balance of each account. Indicate whether each account will appear in the Income Statement (I), Statement of Owner's Equity (NA), or Balance Sheet (B). Account Classification Normal Income Statement, Balance Owner's Equity, or Balanace Sheet EXAMPLE: RENT EXPENSE E DEBIT 1. Cash on Hand . Accounts Payable 3. Service fees earned 4. Account Receivable 5. Prepaid Insurance 6. Unearned service fees 7. Interest Income 8. Land 9. Accumulated Depreciation - building 10. Bad Debts 11. Office Supplies used 12. Depreciation - building 13. Valdez, capital 14. Valdez, drawing 15. Accrued salaries 16. Cash in bank 17. Allowance for Bad debts 18. Office supplies on hand 19. Building 20. Notes ReceivableIV. FINANCIAL STATEMENTS Direction: The following is the adjusted trial balance of Dr. R. gem; for the period ending December 31, 2020. Prepare the income statement, statement of owner's equity, and statement of nancial position of the business. DR. R. GELLER Adjusted Trial Balance December 3], 2020 Accounts Debit Cash 35,000 Fees Receivable 16,500 Allowance for uncollectible fees P 2,500 Prepaid Insurance 5,500 Medical supplies on hand 9,800 Prepaid Rent 10,000 Medical equipment & instruments 180,000 Accumulated Depreciation medical equipment & instrument 18,000 Automobile 250,000 Accumulated Depreciation automobile 30,000 Furniture and Fixtures 120,000 Accumulated Depreciation i furnitures and xtures 8,000 Accounts Payable 4,000 $391191", capital 500,000 99.11%; drawing Professional fees income 170,800 Attendant's salary Rent expense Utilities expense Car driver's wages Repairs and Maintenance Gas and oil Taxes and Licenses