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The following account balances were provided by Kate's Consulting Company as of December 31, 2022. Salary Expense Accounts Receivable 70,500 90,000 Accumulated Depreciation-Equipment 14,800
The following account balances were provided by Kate's Consulting Company as of December 31, 2022. Salary Expense Accounts Receivable 70,500 90,000 Accumulated Depreciation-Equipment 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 Owner's 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 company's bank account balance as of December 31, 2022?
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