Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

The adjusted trial balance columns of the worksheet for Auburn Company are as follows. The owner did not make any additional investments in the business

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The adjusted trial balance columns of the worksheet for Auburn Company are as follows. The owner did not make any additional investments in the business in April. AUBURN COMPANY Worksheet (partial) For the Month Ended April 30, 2020 Adjusted Trial Balance Account Titles Dr. Cr. Cash 10,000 Accounts Receivable 7,840 Prepaid Rent 2,280 Equipment 23,050 Accumulated Depreciation-Equip. 4,900 Notes Payable 5,700 Accounts Payable 4.920 Owner's Capital 27,960 Owner's Drawings 3,650 Service Revenue 15,590 Salaries and Wages Expense 10,840 Rent Expense 760 Depreciation Expense 650 Interest Expense 57 Interest Payable 57 Totals 59,127 59,127 Prepare an income statement. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) AUBURN COMPANY Income Statement For the Month Ended April 30, 2020 Revenues Service Revenue 15590 Expenses $ Prepare an owner's equity statement. (List items that increase owner's equity first.) AUBURN COMPANY Owner's Equity Statement S Prepare a classified balance sheet. (List Current Assets in order of liquidity.) AUBURN COMPANY Balance Sheet Assets $ $ $ Liabilities and Owner's Equity $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Fundamentals Of Financial Management

Authors: Eugene F. Brigham, Joel F. Houston

Concise 10th Edition

9781337902571

Students also viewed these Accounting questions