Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

JIUNUVS. Credit Debit $136,000 1,200 2,150 52,000 KARISE REPAIRS Adjusted Trial Balance December 31 No. Account Title 101 Cash 124 Office supplies 128 Prepaid insurance

image text in transcribed
image text in transcribed
JIUNUVS. Credit Debit $136,000 1,200 2,150 52,000 KARISE REPAIRS Adjusted Trial Balance December 31 No. Account Title 101 Cash 124 Office supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 201 Accounts payable 210 Wages payable 301 C. Karise, Capital 302 C. Karise, Withdrawals 401 Repair fees earned 612 Depreciation expense-Equipment 623 Wages expense 637 Insurance expense 640 Rent expense 650 Office supplies expense 690 Utilities expense Totals $ 5,200 13,000 1,400 34,000 17,500 225,450 5,200 41,000 900 15,000 3,700 4,400 $279,050 $279,050 Note: C. Karise. Capital was $34.000 on December 31 of the prior year. Prepare a statement of owner's equity for the year. KARISE REPAIRS Statement of Owner's Equity For Year Ended December 31 C. Karise, Capital, Dec. 31 prior year end Add: Net income 155,250 155,250 17,500 Less: Withdrawals $ 137,750 C. Karise, Capital, Dec. 31 current year end

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Effective Writing A For Accountants

Authors: Claire B. May, Gordon S. May

9th Edition

0132567245, 9780132567244

More Books

Students also viewed these Accounting questions

Question

Identify the major phases of the training and HRD process

Answered: 1 week ago