P3-47B: Pls prepare financial statements and provide answers to questions 1 - 5 that follows.

roess P3-47B Preparing financial statements from an adjusted trial balance [20-30 min] The adjusted trial balance of A Plus Events Piano Tuning Service at fiscal year end October 31, 2012, follows. A PLUS EVENTS PIANO TUNING SERVICE Adjusted Trial Balance October 31, 2012 Balance Account Title Cash Accounts receivable Supplies Equipment Debit Credit 12,300 10,700 1,800 25,800 12,300 3,300 4,600 700 15,000 9,000 Accounts payable Unearned service revenue Salary payable Note payable Bach, capital Bach, drawing Service revenue Depreciation expense Salary expense Utilities expense Insurance expense Supplies expense Total 36,000 66,000 5,500 9,600 4,100 3,700 1,400 $110,900 $110,900 Requirements 1. Prepare A Plus's 2012 income statement. 2. Prepare the statement of owner's equity for the year. 3. Prepare the year-end balance sheet. 4. Which financial statement reports A Plus's results of operations? Were 2012 operations successful? Cite specifics from the financial statements to sup- port your evaluation. 5. Which statement reports the company's financial position 0S Preparing adjusting entries and preparing an adjusted trial balance [20-30 min This exercise continues the Lawlor Lawn Service situation from Exercise 2-61 of Chapter 2. Start from the trial balance and the posted T-accounts that Lawlor Lawn Serviee prepared at May 31, 2012. E3-48 MyAccouating Requirements 1. Open these additional T-accounts: Accumulated depreciation-equipment; Depreciation expense-cquipment; Supplies expense