Question
The account balances of Awesome Travel Services at December 31 are listed below. There were no additional investments or dividends by Awesome Travel Services during
The account balances of Awesome Travel Services at December 31 are listed below. There were no additional investments or dividends by Awesome Travel Services during the year.
Accounts | Amount | Accounts | Amount |
Accounts payable | $12,000 | Retained earnings (Jan. 1) | $6,000 |
Accounts receivable | 14,000 | Supplies | 1,000 |
Cash | 18,000 | Income taxes expense | 1,300 |
Common stock | 4,000 | Utilities expense | 8,000 |
Computer equipment | 21,000 | Wages expense | 25,000 |
Fees earned | 78,000 | Supplies expense | 1,700 |
Rent expense | 10,000 |
Required:
Prepare an income statement, a statement of stockholder's equity, and a balance sheet as of December 31. Refer to the lists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. You will not need to enter colons (:) on the financial statements. Be sure to complete the statement heading. |
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