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Snap Photography works weddings and prom-type parties. The balance of West, Capital was $20,000 at December 31, 2017. At December 31, 2018, the business's accounting
Snap Photography works weddings and prom-type parties. The balance of West, Capital was $20,000 at December 31, 2017. At December 31, 2018, the business's accounting records show these balances: (Click the icon to view the accounts.) a. Prepare the following financial statements for Snap Photography for the year ended December 31, 2018: Income statement. b. Statement of owner's equity. c. Balance sheet. a. Prepare Snap Photography's income statement. (If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Data Table Insurance Expense $ 8,000 Accounts Receivable $ 7,000 Cash 39,000 Notes Payable 16,000 4,000 West, Capital, Dec. 31, 2018 ? Accounts Payable Advertising Expense Service Revenue 3,500 Salaries Expense 29,000 80,000 54,500 Equipment Owner contribution West, Withdrawals 12,000 33,000 Net Income Print Done
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