Q2

Frank Investment

Account Names	Adjusted Trial Balance
	Debit	Credit
Cash	$ 28,000
Accounts Receivable	53,000
Office Supplies	4,000
Equipment	21,000
Accum. Dep.Equip		$ 18,000
Accounts Payable		16,000
Salaries Payable		2,000
Unearned Revenue		1,900
Notes Payable		23,000
Frank, Capital		31,000
Frank, Withdrawals	27,000
Service Revenue		101,100
Insurance Expense	3,000
Salaries Expense	37,000
Supplies Expense	1,000
Interest Expense	4,000
Rent Expense	8,000
Dep. ExpenseEquip.	7,000
Total	$ 193,000	$ 193,000

Requirements:

Prepare the income statement and statement of owners equity for Frank Investment.

Prepare statement of financial position.