PROBLEM NO. 4 FINANCIAL STATEMENTS

The adjusted trial balance of Perez Company appears below. Using the information from the adjusted trial balance, you are to prepare for the quarter ending March 31, 2020:

1. an income statement.

2. an owners equity statement.

3. a balance sheet.

Perez Company

Adjusted Trial Balance

March 31, 2020

Debit Credit

Cash......................................................................................................... $ 17,000

Accounts Receivable.................................................................................. 4,500

Supplies.................................................................................................... 1,000

Equipment................................................................................................. 18,000

Accumulated DepreciationEquipment........................................................ $ 6,000

Accounts Payable....................................................................................... 8,000

Unearned Service Revenue......................................................................... 7,000

Salaries and Wages Payable....................................................................... 1,000

Perez, Capital............................................................................................ 18,250

Perez, Drawings......................................................................................... 3,500

Service Revenue........................................................................................ 16,400

Salaries and wages expense....................................................................... 6,000

Supplies Expense....................................................................................... 2,500

Rent Expense............................................................................................ 2,100

Depreciation Expense................................................................................. 750

Advertising expense.................................................................................... 700

Utilities Expense......................................................................................... 600

$56,650 $56,650