MARTINEZ PEREZ, CONSULTING ENGINEER TRIAL BALANCE DECEMBER 31, 2017 Debit $29,500 56,400 Credit Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Owner's Capital Service Revenue Rent Expense (13 months of rent) Salaries and Wages Expense Utilities Expenses Office Expense Totals $718 1,730 1,050 33,800 8,450 7,200 35,342 112,964 9,334 30,360 1,750 750 $164,674 $164,674 1. Fees received in advance from clients $6,010, which were recorded as revenue 2. Services performed for clients that were not recorded by December 31, $5,145 3. Bad debt expense for the year is $1,294 4. Insurance expired during the year $471 5. Equipment is being depreciated at 10% per year 6, Martinez Perez gave the bank a 90-day, 10% note for $7,200 on December 1, 2017. 7. Rent of the building is $718 per month. The rent for 2017 has been paid, as has that for January 2018, and recorded as Rent Expense 8. Office salaries and wages earned but unpaid December 31, 2017, $2,292 MARTINEZ PEREZ, CONSULTING ENGINEER Statement of Owners' Capital For the Year Ended December 31, 2017 Onwer's Capital, January 1 AddNet Income/ (Loss) Less Owner's Drawings 52442 63126 17100 Owner's Capital, December 31 46026 Total Assets 114030 Liabilities and Owner's Equity Current Liabilities Salaries and Wages Pay Notes Payable Interest Payable 2292 7200 60 Unearned Service Reve 6010 Total Current Liabilities 15562 Owner's Equity Owner's Capital 46026 Total Liabilities and Owner's Equity 61588 Click if you would like to Show Work for this question: Open Show Work