Question
The following account balances were provided by Kates Consulting Company as of December 31, 2022. Salary Expense 70,500 Accounts Receivable 90,000 Accumulated DepreciationEquipment 14,800 Supplies
The following account balances were provided by Kates Consulting Company as of December 31, 2022.
Salary Expense 70,500 Accounts Receivable 90,000 Accumulated DepreciationEquipment 14,800 Supplies 3,600 Equipment 74,000 Fees Earned 175,200 Miscellaneous Expense 7,400 Salaries Payable 1,500 Kate, Capital 90,400 Cash 38,000 Kate, Drawing 12,000 Supplies Expense 6,000 Depreciation Expense 4,800 Accounts Payable 24,400
1. Prepare and Income Statement 2. Prepare a Statement of Owners Equity 3. Prepare a Balance Sheet 4. Answer the following questions: a. What are the total assets of the company? b. What is the Net Worth of the company? c. How much does the company owe? d. What is the companys bank account balance as of December 31, 2022?
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