Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Prepare a Statement of Owner's Equity for the Month ending January 31, 20XX using the following information. Parker Plowing Worksheet For Month Ended January 31,
Prepare a Statement of Owner's Equity for the Month ending January 31, 20XX using the following information.
Parker Plowing | |||||||||||||
Worksheet | |||||||||||||
For Month Ended January 31, 2018 | |||||||||||||
Account Tiles | Trial Balance | Adjustments | Adjusted Trial Balance | Income Statement | Balance Sheet | ||||||||
Dr. | Cr. | Dr. | Cr. | Dr. | Cr. | Dr. | Cr. | Dr. | Cr. | ||||
Cash | 4870 | 4870 | 4870 | ||||||||||
Accounts Receivable | 1500 | 1500 | 1500 | ||||||||||
Prepaid Rent | 6000 | 1000 | 5000 | 5000 | |||||||||
Snow Supplies | 800 | 100 | 700 | 700 | |||||||||
Office Equipment | 12600 | 12600 | 12600 | ||||||||||
Snow Equipment | 12000 | 12000 | 12000 | ||||||||||
Accounts Payable | 7000 | 7000 | 7000 | ||||||||||
Parker Muroney, Capital | 22000 | 22000 | 22000 | ||||||||||
Parker Muroney, Withdrawls | 4000 | 4000 | 4000 | ||||||||||
Income Summary | 10880 | 10880 | |||||||||||
Plowing Fees | 15500 | 15500 | 15500 | ||||||||||
Salary Expense | 1900 | 380 | 2280 | 2280 | |||||||||
Advertisng Expense | 700 | 700 | 700 | ||||||||||
Telephone Expense | 130 | 130 | 130 | ||||||||||
44500 | 44500 | ||||||||||||
Snow Supplies Expense | 100 | 100 | 100 | ||||||||||
Rent Expense | 1000 | 1000 | 1000 | ||||||||||
Depreciation Expense, Office Equipment | 210 | 210 | 210 | ||||||||||
Acc Depreciation, Office Equipent | 210 | 210 | 210 | ||||||||||
Depreciation Expense, Snow Equipment | 200 | 200 | 200 | ||||||||||
Acc Depreciation, Snow Equipment | 200 | 200 | 200 | ||||||||||
Salaries Payable | 380 | 380 | 380 | ||||||||||
Net Income | 1890 | 1890 | 45290 | 45290 | 15500 | 15500 | 40670 | 40670 | |||||
Step 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