Problem 4-5A accounting

9,600 Prepaid Insurance 4,800 575 2,000 104,000 Rent Expense Repairs Expense Salaries Payable Salaries Expense Directions: 1. Prepare an income statement for the six months ended June 30, 20x2. 2. Prepare a statement of owner's equity for the six months ended June 30, 20X2. 3. Prepare a balance sheet as of June 30, 20X2. Problem 4-5A Objective: To prepare a work sheet and financial statements and journalize adjusting entries Abbas Mottaghi, owner of Mottaghi Photography, prepared the following trial balance on December 31, 20X2: Chapter 4 | The Accounting Cycle Continued 16