Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

NTS) On January 1, 2018, Donna Cochran invested $20,000 in Donna's Antiques. During 2018, Donna withdrew $11,000 for personal use. Donna's Antiques reports the tollowing

image text in transcribed
image text in transcribed
NTS) On January 1, 2018, Donna Cochran invested $20,000 in Donna's Antiques. During 2018, Donna withdrew $11,000 for personal use. Donna's Antiques reports the tollowing balances on December 31, 2018 Accounts receivable 2 Accounts payable Depreciation expense Service revenue Land Travel expense Building Note payable i Supplies Donna Cochran, Capital Jan 1, 2018 Salary expense Cash L Supplies expense Postage expense xUnearned Service Revenue $14,000 4200 2.200 27,750 20,000 2.900 85,000 12,800 900 90,000 6,650 10,500 3,000 1,600 3,000 99 Donna's Antiques Prepare an income statement for the year ended December 31, 2018- 150 IACOME Statement year ended December 31,2018 Revenue 2,O Service Revenue tanearnal Serpvie bevinur 3 Expense Depreciation Expense 2,200 Travel exDense 2,900 Salary expense supplies expense postage expense 3,0 00 I,G00 Net totot 2A66 Prepare an balance sheet dated December 31, 2018 for Donna's Antiques

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

Students also viewed these Accounting questions