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The records of Roadmaster Auto Rentals show the following information as of December 31. The owner, Rob Fletcher withdrew $52,000 during the year for personal
The records of Roadmaster Auto Rentals show the following information as of December 31. The owner, Rob Fletcher withdrew $52,000 during the year for personal expenses. Prepare December income statement, a December statement of owner's equity, and a December 30 balance sheet.
Accounts payable
$36,000
Wages expense
$75,000
Insurance expense
2,000
Advertising expense
22,000
Accounts receivable
24,000
Cash
11,000
R Fletcher, Capital,
January 1
150,000
Office Furniture
15,000
Airplanes
150,000
Maintenance expense
39,000
Notes payable
47,000
Revenues
217,000
Hangar
60,000
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