LO6

(a)	An income statement containing more than one revenue account requires an additional line for each type of revenue, followed by a total amount of revenue.
(b)	A statement of owner's equity involving an additional investment requires a line for each additional investment beneath the beginning capital amount, followed by a total amount of investment.
(c)	Businesses that have more than one type of asset subject to depreciation must show a separate account for each asset on the balance sheet.

(a)

Using the following information, prepare an income statement for the month of April for Mary's Auto Repair:

Depreciation Expense, Equipment	405
Sales Income	2,750
Repairs Income	2,125
Salary Expense	1,655
Utilities Expense	360
Rent Expense	500
Advertising Expense	210
Insurance Expense	1,100
Supplies Expense	1,250

Mary's Auto Repair
Income Statement
For Month Ended April 30, 20--
Revenue
		$
Total Revenue
Expenses:
	$
Total Expenses

(b)

Using the following information, prepare a statement of owner's equity for the month of October for Ann's Cupcakes.

A. Gordon, Capital, on October 1	$15,750
Additional investment by A. Gordon on October 20	4,250
Net loss for the month (from income statement)	700
Total withdrawals for the month	2,100

Ann's Cupcakes
Statement of Owner's Equity
For Month Ended October 31, 20--
		$
Total Investment		$
	$
		$

(c)

Using the following information, prepare a year-end balance sheet for Lake Mills Vet Clinic as of December 31.

Accounts Payable	$ 2,575
Accumulated Depreciation, Building	90,400
Accumulated Depreciation, Equipment	56,200
Building	375,000
Cash	27,232
Equipment	102,200
Land	37,000
Supplies	250
L. Mills, Capital	392,507

Lake Mills Vet Clinic
Balance Sheet
December 31, 20--
Assets
		$
Total Assets		$
Liabilities
		$
Owner's Equity
Total Liabilities and Owner's Equity		$