Question
Please assist with the following question(s) by using the partial work sheet below. INCOME STATEMENT From the partial work sheet for Case Advising below, prepare
Please assist with the following question(s) by using the partial work sheet below.
INCOME STATEMENT From the partial work sheet for Case Advising below, prepare an income statement. (Net income $1990.00)
STATEMENT OF OWNERS EQUITY From the partial work sheet below, prepare a statement of owners equity, assuming no additional investment was made by the owner. (Capital 1/31: $5,190)
BALANCE SHEET From the partial work sheet below, prepare a balance sheet. (Total assets $6390.00)
Work Sheet (Partial) For Month Ended January 31, 20 - - |
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ACCOUNT TITLE | INCOME STATEMENT | BALANCE SHEET | ||||||||||||||||||||
DEBIT | CREDIT | DEBIT | CREDIT | |||||||||||||||||||
1 | Cash | 1 | 2 | 1 | 2 | 00 | 1 | |||||||||||||||
2 | Accounts Receivable | 8 | 9 | 6 | 00 | 2 | ||||||||||||||||
3 | Supplies | 4 | 8 | 2 | 00 | 3 | ||||||||||||||||
4 | Prepaid Insurance | 9 | 0 | 0 | 00 | 4 | ||||||||||||||||
5 | Office Equipment | 3 | 0 | 0 | 0 | 00 | 5 | |||||||||||||||
6 | Accum. Depr.Office Equipment | 1 | 0 | 0 | 00 | 6 | ||||||||||||||||
7 | Accounts Payable | 1 | 0 | 0 | 0 | 00 | 7 | |||||||||||||||
8 | Wages Payable | 2 | 0 | 0 | 00 | 8 | ||||||||||||||||
9 | Bill Case, Capital | 4 | 0 | 0 | 0 | 00 | 9 | |||||||||||||||
10 | Bill Case, Drawing | 8 | 0 | 0 | 00 | 10 | ||||||||||||||||
11 | Advising Fees | 3 | 7 | 9 | 3 | 00 | 11 | |||||||||||||||
12 | Wages Expense | 8 | 0 | 0 | 00 | 12 | ||||||||||||||||
13 | Advertising Expense | 8 | 0 | 00 | 13 | |||||||||||||||||
14 | Rent Expense | 5 | 0 | 0 | 00 | 14 | ||||||||||||||||
15 | Supplies Expense | 1 | 2 | 0 | 00 | 15 | ||||||||||||||||
16 | Telephone Expense | 5 | 8 | 00 | 16 | |||||||||||||||||
17 | Electricity Expense | 4 | 4 | 00 | 17 | |||||||||||||||||
18 | Insurance Expense | 3 | 0 | 00 | 18 | |||||||||||||||||
19 | Gas and Oil Expense | 3 | 8 | 00 | 19 | |||||||||||||||||
20 | Depr. ExpenseOffice Equipment | 1 | 0 | 0 | 00 | 20 | ||||||||||||||||
21 | Miscellaneous Expense | 3 | 3 | 00 | 21 | |||||||||||||||||
22 | 1 | 8 | 0 | 3 | 00 | 3 | 7 | 9 | 3 | 00 | 7 | 2 | 9 | 0 | 00 | 5 | 3 | 0 | 0 | 00 | 22 | |
23 | Net Income | 1 | 9 | 9 | 0 | 00 | 1 | 9 | 9 | 0 | 00 | 23 | ||||||||||
24 | 3 | 7 | 9 | 3 | 00 | 7 | 2 | 9 | 0 | 00 | 7 | 2 | 9 | 0 | 00 | 7 | 2 | 9 | 0 | 00 | 24 |
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