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The adjusted trial balance for Crane Fishing Centre is as follows: CRANE FISHING CENTRE Adjusted Trial Balance March 31, 2021 Debit Credit Cash $8,000 Interest
The adjusted trial balance for Crane Fishing Centre is as follows:
CRANE FISHING CENTRE Adjusted Trial Balance March 31, 2021 | |||
Debit | Credit | ||
Cash | $8,000 | ||
Interest receivable | 750 | ||
Supplies | 1,450 | ||
Long-term investments | 29,000 | ||
Land | 47,000 | ||
Building | 185,000 | ||
Accumulated depreciationbuilding | $31,000 | ||
Equipment | 37,000 | ||
Accumulated depreciationequipment | 17,500 | ||
Accounts payable | 6,500 | ||
Interest payable | 940 | ||
Unearned revenue | 2,120 | ||
Notes payable ($6,000 must be paid in February, 2022) | 66,200 | ||
R. Falkner, capital | 164,140 | ||
R. Falkner, drawings | 46,000 | ||
Service revenue | 125,600 | ||
Interest revenue | 1,400 | ||
Depreciation expense | 9,950 | ||
Interest expense | 3,850 | ||
Insurance expense | 4,700 | ||
Salaries expense | 31,500 | ||
Supplies expense | 5,800 | ||
Utilities expense | 5,400 | ||
$415,400 | $415,400 |
Prepare a statement of owner's equity. The owner, Rachael Falkner, invested $2,100 cash in the business during the year. (Note: The investment has been recorded and it is included in the capital account.) (List items that increase owner's equity first.)
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