Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Q1.(40 marks) Using the following partial Excel work sheet for Breakout Maze Co., prepare the Income Statement the Statement ofChanges in Equity, andan unclassified Balance

image text in transcribed

Q1.(40 marks) Using the following partial Excel work sheet for Breakout Maze Co., prepare the Income Statement the Statement ofChanges in Equity, andan unclassified Balance Sheet for the company. Assumethe owner did notmake any investments in the business during the year. LasickInc. Work Sheet For Year Ended June 30, 2019 Statement of Changes in Equity Account Income Statement and Balance Sheet Dr. Cr. Dr. Cr. Cash 11,265 Accounts receivable 1,500 Office supplies 1.300 Prepaid insurance 4,400 Building 120.000 Accumulated depreciation Building 24,000 Notes payable 3,000 Salanes payable 3,160 M. Tomas, capital 65,355 M. Tomas, withdrawals 5,000 Motel rental revere 55,000 Depreciation expense, Building 3,000 Salanes expense 1,200 Insurance expense 500 Rent expense 1.400 Office supplies expense 300 Repairs expense 400 Telephone expense 250 Totals 7,050 55,000 143,465 95.515 Profit 47.950 Totals 47.950 55.000 55.000 143.465 143,465 Words. 1,308 Type here to search

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Auditor Independence Auditing Corporate Governance And Market Confidence

Authors: Ismail Adelopo

1st Edition

1409434702, 978-1409434702

More Books

Students also viewed these Accounting questions