Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

Preparing the income statement, the statement of owner's equity and the classified balance sheet in account format income statement columns are down below as a

Preparing the income statement, the statement of owner's equity and the classified balance sheet in account format
income statement columns are down below as a photo
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
JAN Men December 2016 up the way that way in and any other The unadjusted trial balance of Fawn investment Advisers at December 31, 2016, follows Fawn Investment Advisers Worksheet December 31, 2016 Adjusted Adjustments Trial Balance Debit Credit Debit Credit Income Balance Unadjusted Trial Balance Statement Sheet Acct. Tide Debit Debit Debit Credit Credit Credit Cash AR 29.000 48.000 9,000 27.000 18.000 18.000 Office Supp Equipment A/D-Equip Salatles Pay Uneam Rev NP (V) Fawn Cap Fawn WD 5.000 20,000 52 000 33.000 Service Rev 89.000 Ins Exp 7.000 34 000 Salaries Exp Supplies Exp Interest Exp Rent Exp Depr Exp 8,000 7.000 202.000 202.000 Total Net income or loss Data table Fawn investment Advisers Unadjusted Trial Balance December 31, 2016 Balance Account Title Debit Credit Cash S 29,000 Accounts Receivable 48,000 Office Supplies 9,000 Equipment 27,000 Accumulated Depreciation Equipment 5 18.000 Accounts Payable 18.000 Salaries Payable Unearned Revenue 5.000 Notes Payable (long-term) 20,000 Fawn, Capital 52.000 Fawn. Withdrawals 33.000 Service Revenue 89.000 7.000 34,000 Insurance Expense Salaries Expense Supplies Expense Interest Expense Rent Expense Dapreciation Expense Equipment 8.000 7.000 Total $ 202,000 $ 202.000 Print Done Abbreviations used Acct. Account A/R Supp A/D-Equip A/P Pay Unearn. Rev. N/P(1/1) . Accounts Receivable Supplies Accumulated Depreciation-Equipment Accounts Payable Payable Unearned Revenue Notes Payable (long-term) Capital Withdrawals Revenue Insurance Expense Expense Depreciation Expense-Equipment W/D Rev. Ins. Exp. Exp Depr. Exp. Print Done ents along with the adjustment letter references-(a) (b), (c), etc.-into t More info a. Unearned Revenue earned during the year $500 b. Office Supplies on hand $6,000 Depreciation for the year, $2,000. d. Accrued Salaries Expense, $6,000 Accrued Service Revenue $10,000 C. e. Print Done

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Recommended Textbook for

Intermediate Accounting

Authors: J. David Spiceland, James Sepe, Mark Nelson

6th edition

978-0077400163

Students also viewed these Accounting questions