Instructions Bob Night opened The General's Favorite Fishing Hole in April with a $90,000 investment. The work sheet prepared after the first month of operations is shown. The General's Favorite Fishing Hole Work Sheet For the Month Ended April 30, 20- ACCOUNT TITLE ADJUSTED TRIAL TRIAL BALANCE TRIAL BALANCE ADJUSTMENTS ADJUSTMENTS BALANCE DEBIT CREDIT DEBIT CREDIT DEBIT Cash 130,650.00 130,650.00 Office Supplies 500.00 400.00 100.00 Food Supplies 38,700.00 30,700.00 8,000.00 Prepaid Insurance 9,000.00 1,500.00 7,500.00 7 Fishing Boats 60,000.00 60,000.00 Accumulated Depreciation-Fishing Boats 1,000.00 Accounts Payable 66,500.00 10 Wages Payable 500.00 work Soeet For the Month Ended April 30, 20- TRIAL BALANCE TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL ADJUSTED TRIAL ADJUSTMENTS BALANCE BALANCE INCOME STATEMENT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT INCOME STATEMENT CREDIT 130,650.00 130,650.00 500.00 400.00 100.00 38,700.00 30,700.00 8,000.00 9,000.00 1,500.00 7,500.00 60,000.00 60,000.00 1,000.00 1,000.00 66,500.00 66,500.00 500.00 500.00 90,000.00 90,000.00 6,000.00 6,000.00 171,700.00 171,700.00 171,700.00 40,000.00 500.00 40,500.00 40,500.00 Instructions Office Supplies Food Supplies 500.00 38,700.00 Prepaid Insurance 9,000.00 Fishing Boats 60,000.00 Accumulated Depreciation-Fishing Boats Accounts Payable Wages Payable 400.00 100.00 30,700.00 8,000.00 1,500.00 7500.00 60,000.00 1,000.00 66,500.00 500.00 Bob Night, Capital Bob Night, Drawing Registration Fees 34 Wages Expense 90,000.00 6,000.00 6,000.00 171.700.00 40,000.00 500.00 40,500.00 15 Rent Expense 40,000.00 40,000.00 Office Supplies Expense 40000 400.00 Food Supplies Expense 30,700.00 30,700.00 Phone Expense 1,200.00 1,200,00 Ubilities Expense 2,000.00 2,000.00 Insurance Expense Postage Expense 1,500.00 1,500.00 150.00 150.00 Depreciation Expense-Fishing Boats 1000.00 1000.00 $328,300.00 $328,200.00 $54,100.00 $14,100.00 $329.700.00 31 24 Net Income oblem HEET Instructions HEET 38,700.00 9.000.00 500.00 40000 100.00 30,700.00 3.000.00 HEET 50,000.00 1.500.00 7.500.00 100.00 5.000.00 7.500.00 60.000.00 60,000.00 1,000.00 1,000.00 66,500.00 66,500.00 50000 500.00 1.00000 66,500.00 500.00 90,000.00 90,000.00 90,000.00 6,000.00 600000 ,000.00 171,700.00 171.700 00 171,700.00 40,000.00 500.00 40.50000 40.50000 40,000.00 40,00000 40,000.00 400.00 40000 40000 30,700.00 30.700.00 3070000 1,200.00 1.200.00 1.200.00 7,000.00 2,000.00 2,000.00 1.500.00 1,500.00 1,500.00 15000 15000 150.00 1,000.00 1,000.00 100000 $28,200.00 $320,200.00 $54,100.00 $14,300.00 $529,700001 $329,200.00 11745000 171700.00 21225000 158,000.00 54,250.00 5425000 Income Statement i The General's Favorite Fishing Hole Income Statement (Label) 1 (Label) 2 4 (Label) 5 6 7 ' 10 I 11 12 13 14 8. Prepare the statement of owner's equity Statement of Owner's Equity Instructions The General's Favorite Fishing Hole Statement of Owner's Equity (Label) Statement of Owner's Equity Balance Sheet 9. Prepare the balance sheet. Balance Sheet Instructions The General's Favorite Fishing Hole Balance Sheet (Label) 1 Assets (Label) 3 5 6 9 30 11 (Label) Statement of Owner's Equity Balance Sheet 7 9 (Label) 10 11 12 13 (Label) 14 15 36 Liabilities 17 Owner's Equity 18 19