Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mitchel Delivery Service completed the following transactions during December 2016: Click the icon to view the transactions.) December 31, 2016 Read the requirements Balance Sheet

image text in transcribed
image text in transcribed
Mitchel Delivery Service completed the following transactions during December 2016: Click the icon to view the transactions.) December 31, 2016 Read the requirements Balance Sheet Account Title Debit Credit 22,550 2.350 500 1.650 13,000 Insurance Expense 150 Depreciation Expense-Truck 150 Tiptal Expenses 5.450 Net Income (Loss) 12,600 Prepare the statement of owner's equity. Enter any increases in capital prior to the subtotal and any in retained earnings.) Review the Balance Sheet.columns of the worksheet completed in Baguiroment.4. Mitchel Delivery Service Statement of Owner's Equity Month Ended December 31, 2016 Mitchel, Capital, December 1, 2016 Owner contribution Net Income for the month 12600 o balances. 150 0 Cash Accounts Receivable Office Supplies Prepaid Insurance Truck Acc. Dep.--Truck Accounts Payable Salaries Payable Unearned Revenue Mitchel, Capital Mitchel, Withdr Service Revenue Salaries Expense Dep. Exp. ---Truck 1,300 600 28,000 2,600 Owner withdrawal (2600) Mitchel, Capital, December 31, 2016 28000 Michel Delivery Service completed the folowing transactions during December 2016 Click the icon to view the transactions Read the requirements Review the income Salements that come Beaurement Mitchel Delivery Service Income Statement Month Ended December 31, 2016 Revenues Service Revenue $ 1800 Excensee 2600 Rent Expense 2,100 250 Fuel Expense 200 150 Depreciation Expense Track Total Prepare the stanement of anner's equity Enter any increases in capital prior to the land onder belowe CA

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

Auditor Squad

Authors: IndigoPine Designs

1st Edition

B084Q9WM6S, 979-8609911131

More Books

Students also viewed these Accounting questions

Question

6. Explain the strengths of a dialectical approach.

Answered: 1 week ago

Question

2. Discuss the types of messages that are communicated nonverbally.

Answered: 1 week ago