Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question fill the squares MY Autobody's adjusted trial balance on December 31, 2020, appears in the work sheet as follows: No. 101 124 128 167

image text in transcribedimage text in transcribed

image text in transcribedimage text in transcribed

Question fill the squares

MY Autobody's adjusted trial balance on December 31, 2020, appears in the work sheet as follows: No. 101 124 128 167 168 201 210 301 302 401 612 623 637 640 650 690 Account Cash Shop supplies Prepaid insurance Equipment Accumulated depreciation, equipment Accounts payable Wages payable Mike Yang, capital Mike Yang, withdrawals Repair revenue Depreciation expense, equipment Wages expense Insurance expense Rent expense Office supplies expense Utilities expense Totals Debit Credit $ 28,000 1,800 4,200 88,000 $ 7,500 19,000 8,860 140,000 36,000 157,630 8,500 104,500 1,900 52, 350 4,800 2,940 $332,990 $332,990 There were no investments by the owner during the year. Prepare an income statement for the year ended December 31, 2020. MY AUTOBODY Income Statement For Year Ended December 31, 2020 Revenues: Operating expenses: Total operating expenses 0 Prepare a statement of changes in equity for the year ended December 31, 2020. MY AUTOBODY Statement of Changes in Equity For Year Ended December 31, 2020 Mike Yang, capital, January 1 Mike Yang, capital, December 31 MY AUTOBODY Balance Sheet December 31, 2020 Assets Current assets: Total current assets $ 0 Property, plant and equipment: Total assets $ 0 Liabilities Current liabilities: Total current liabilities $ 0 Equity Total liabilities and equity O

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_2

Step: 3

blur-text-image_3

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

Advanced Level Audit And Assurance Q And A 2020

Authors: ACA Simplified

1st Edition

B08924C516, 979-8648590489

More Books

Students also viewed these Accounting questions

Question

Discuss the positive and negative consequences of accommodation

Answered: 1 week ago