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JenCo showed the following trial balance information (in alphabetical order) for its first month just ended March 31, 2017: Use the information provided to complete
JenCo showed the following trial balance information (in alphabetical order) for its first month just ended March 31, 2017:
Use the information provided to complete an income statement, statement of changes in equity, and balance sheet.
JenCo showed the following trial balance information (in alphabetical order) for its first month just ended March 31, 2017: Debit Account Accounts payable Accounts receivable Credit $ 420 $ 1,870 420 620 10 1,970 Cash Equipment Interest expense Marie Jensen, capital Marie Jensen, withdrawals Notes payable Prepaid insurance Salaries expense Service revenue Unearned service revenue 1,420 1,020 220 720 1,490 380 Totals $5,280 $5,280 Required: Use the information provided to complete an income statement, statement of changes in equity, and balance sheet. JENCO Income Statement For Month Ended March 31, 2017 Revenues Operating expenses Total operating expenses 0 JENCO Statement of Changes in Equity For Month Ended March 31, 2017 Marie Jensen, capital, March 1 Total $ 0 Marie Jensen, capital, March 31 JENCO Balance Sheet March 31, 2017 Assets Liabilities Total liabilities 0 Equity Total assets $ Total liabilities and equity $ 0
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