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Media Marketing Services has been operating for several years. It showed the following trial balance information (in alphabetical order) for the month just ended March
Media Marketing Services has been operating for several years. It showed the following trial balance information (in alphabetical order) for the month just ended March 31, 2020: Account Accounts payable Accounts receivable Building Debit Credit $ 53,000 $3,700 87,000 Cash 20,500 Revenue 142,100 Sam Smith, capital 129,000 Sam Smith, withdrawals 21,500 Land 91,000 Machinery 57,000 Notes payable 121,000 Office supplies 3,700 Office supplies expense 7,700 153,000 $445,100 $445, 100 Wages expense Totals "The $129,000 balance Includes $42.000 invested by the owner during March. Required: Using the information provided, prepare an income statement and a statement of changes in equity for the month ended March 31, 2020, and a balance sheet at March 31, 2020. Revenues MEDIA MARKETING SERVICES Income Statement For Month Ended March 31, 2020
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