Answered step by step
Verified Expert Solution
Question
1 Approved Answer
need some help filling this out thank you and im not sure if my answers are correct in my part 1 below Tybalt Construction Income
need some help filling this out thank you and im not sure if my answers are correct in my part 1 below
Tybalt Construction Income Statement For Year Ended December 31, 2017 Tybalt Construction Statement of Ovner's Equity For Year Ended December 31, 2017 Tybalt Construction Balance Sheet December 31, 2017 O. Tybalt, Capital, December 31, 2016 O. Tybalt, Capital ADD: Investment by Owner Add Net Inoome Sub-Total LESS: O. Tybalt, withdrawls O. Tybalt, Capital, December 31, 2017 Assets 126,400 Professional Fees Earned Rent Earned Dividends Earned Interest Eaned Total Revenue 97,000 14,000 2,000 Current Assets 5,000 23,000 8,100 7,000 Cash 4,300 130,700 13,000 117,700 115,100 115,100 PrepaidInsurance Total Current Assets Plant assets 43,100 43,100 Chect 117,700 40,000 Depreciation Expense -Building 11,000 Depreciation Expense -Equipmer Wages Expense Interest Expense Insurance Expense Rent Expense Supplies Expense Postage Expense Property Taes Expense Repairs Expense 6,000 32,000 5,100 10,000 13,400 7,400 4,200 5,000 8,900 3,200 4,600 Accumulated Depreciation -Equip 20,000 50,000 Land Total Plant Assets Total Assets 55,000 175,000 218,100 218,100 175,000 Liabilities Current Liabilities Accounts Payable Interest Payabkle Rent Payable Wages Payable Property Taxes Payable Unearned Professional Fees Current Portion of Long-Term Notes 16500 2500 3500 2500 900 7500 7000 Utilities Expense Total Expenses 110,8001 110,800 4.300 4,300 Net Income 40,400 60,000 100,400 Total Current Liabilities Long-Term Notes Payable 60,000 Total Liabilities Equity 0. Tybalt, Capital Total Liabilities and Equit 117,700 218,100 218.100Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started