Question
The following is the adjusted trial balance for Nadia Company. Nadia Company Adjusted Trial Balance December 31 Account No. Debit Balances Credit Balances Cash 11
The following is the adjusted trial balance for Nadia Company. Nadia Company Adjusted Trial Balance December 31 Account No. Debit Balances Credit Balances Cash 11 5,130 Accounts Receivable 12 3,300 Prepaid Expenses 13 420 Equipment 18 12,400 Accumulated Depreciation 19 2,200 Accounts Payable 21 700 Notes Payable (due on June 30) 22 3,070 Nadia Porter, Capital 31 13,000 Nadia Porter, Drawing 32 700 Fees Earned 41 10,930 Wages Expense 51 2,450 Rent Expense 52 1,900 Utilities Expense 53 1,475 Depreciation Expense 54 1,150 Miscellaneous Expense 59 975 Totals 29,900 29,900 Assume that the capital account started with a beginning balance of $10,000 and that the owner made an additional investment of $3,000 during the period. Prepare an Income Statement. Nadia Company Income Statement For the Year Ended December 31 Fees earned $ Expenses: Wages expense $ Rent expense Utilities expense Depreciation expense Miscellaneous expense Total expenses Net income $ Prepare a Statement of Owner's Equity. Nadia Company Statement of Owner's Equity For the Year Ended December 31 $ $ $ Prepare a Balance Sheet. Nadia Company Balance Sheet December 31 Assets Current assets $ Total current assets $ Property, plant, and equipment $ Total property, plant, and equipment $ Total assets $ Liabilities Current liabilities $ Total liabilities $ Owner's Equity $ Total liabilities and owner's equity $
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