Q-1) Harvey Specter started his own firm, Specter Co. on July 1, 2011. The list of different account titles with respective balances (each account has a normal balance) at September 30, 2013 is as follows

Specter Co.

List of Accounts September 30, 2013

Account #	Account Title	Balance ($)
101	Cash	8,100
112	Accounts Receivable	10,800
126	Prepaid Insurance	8,400
130	Building	50,000
149	Equipment	24,000
201	Accounts Payable	20,000
209	Unearned Service Revenue	6,000
254	Capital	22,900
330	Drawing	10,000
354	Sales Revenue	60,000
333	Salaries Expenses	7,000
440	Rent Expenses	30,000
470	Advertising Expenses	3,500
380	Inventories	1,500
480	Trade mark	21,000
420	Mortgage payable	48,000
355	Dividend Revenue	19000
202	Accumulated Depreciation building	4,000
205	Supplies	5,600

Instruction:

1. Prepare a single step income statement and owners equity statement for quarter ending September 30 and a classified balance sheet as of September 30, 2013.