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The ADJUSTED Trial Balance of Practice Merchants for the year ended December 31, 2020, follows: Practice Merchants ADJUSTED Trial Balance December 31, 2020 Account
The ADJUSTED Trial Balance of Practice Merchants for the year ended December 31, 2020, follows: Practice Merchants ADJUSTED Trial Balance December 31, 2020 Account Title Debit Credit Cash $ 15,000 Office supplies 1,100 Prepaid insurance 2,500 Equipment 50,000 Accumulated depreciation-Equipment Accounts payable $ 10,000 8,000 Wages payable 1,200 Unearned service revenue 4,000 Capital Withdrawals Sales Revenue Sales Discounts 66,000 16,000 100,000 10,000 Cost of Goods Sold Wages Expenses Depreciation expense Office supplies expense Insurance expense Total Required: $ 189,200 $ 189,200 Based on the adjusted account balances listed above, complete the following: a. Multi-Step Income Statement b. Statement of Owner's Equity (Note: all owner investements were made during 2020) c. Classified Balance Sheet Remember: All adjustments have already been made. 50,000 35,000 3,600 3,600 2,400
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