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The following is a list of the accounts and their balances appearing in the ledger of Martin Mann Garage as of December 31, 2020, the
The following is a list of the accounts and their balances appearing in the ledger of Martin Mann Garage as of December 31, 2020, the company's year-end. The accounts are in alphabetical order and have normal balances. This is the second year of operations. REQUIRED A. Prepare an Income statement for the year ended December 31, 2020.8 marks B. Prepare a Statement of Changes in Equity for the year ended December 31, 2020. 5 marks C Prepare a Balance Sheet as at December 31, 2020. 12 marks ACCOUNT Accounts payable Accounts receivable Cash Equipment Gasoline Expense Martin Mann, Capital Martin Mann, Withdrawals Notes Payable Prepaid Rent Rent Expense Repairs Expense Salary Expense Salary Payable Sales Revenue Service Revenue Supplies Supplies Expense Truck Uneamed Service Revenue ACCOUNT BALANCE 1,150 2.750 1,200 17 800 1.00 19,00 1.500 TO 1,000 1,600 1.900 2.100 100 750 2000 24.000 200 Income Statement Statement of Owner's Equity Balance Sheet
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