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Need help filling out income statement, balance sheet, etc ACCOUNTING 111/112/211 Chapter 2 In-Class Exercises The following account balances are for the Thomas Williams, Attorney
Need help filling out income statement, balance sheet, etc
ACCOUNTING 111/112/211 Chapter 2 In-Class Exercises The following account balances are for the Thomas Williams, Attorney at Law, at the end of January. 2014. Thomas Williams began his business on January 1, 2014, with the $15,000 investment in his capital account. THOMAS WILLIAMS, ATTORNEY AT LAW Owner's Equity Statement (insert date) CR. DR. 650 2000 750 4900 8250 ACCOUNT NAME Rent Expense T. Williams, Draw Supplie Salaries Expense Cash Accounts Payable Utilities Expense Accounts Receivable T. Williams, Capital Service Revenue Office Equipment Tatals BALANCE 650 9 2,000 7 750 3 4,90010 8,2501 1 2,000 5 500 11 3,250 2 15,000 6 8,300 8 5,000 4 2000 500 3250 15000 8300 5000 25300 25300 THOMAS WILLIAMS, ATTORNEY AT LAW Balance Sheet INSTRUCTIONS (insert date) Assets 1. Enter the normal balance of each account into either the DR or CR column. 2. Number the accounts in the arder they would appear in the trial balance. 3. Prepare the income Statement, Owner's Equity Statement, and Balance Sheet using the above balances. Liabilities and Owner's Equity THOMAS WILLIAMS, ATTORNEY AT LAW Income Statement (insert date)Step by Step Solution
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