Question
Wells Company was started on November 1, 2022 by Jane Wells. The company owns and manages an apartment building. Using the adjusted account balances below,
Wells Company was started on November 1, 2022 by Jane Wells. The company owns and manages an apartment building. Using the adjusted account balances below, Prepare IN GOOD FORM the Income Statement, Owner's Equity Statement and Balance Sheet for the month ended November 30, 2022.
Use correct statement headings, columns, dollar signs and underlining.
Advertising Expense 3,000
Accounts Payable 4,500
Accounts Receivable 7,700
Accumulated Depreciation: Equipment 4,000
Cash 5,150
Depreciation Expense 7,000
Equipment 18,000
Insurance Expense 1,600
Interest Expense 1,400
Interest Payable 500
Management Revenue 6,000
Miscellaneous Expense 800
Notes Payable 6,000
Prepaid Insurance 1,300
Rent Expense 1,500
Salaries Expense 18,700
Salaries Payable 3,750
Service Revenue 39,000
Owner's Capital 10,000
Owner's Drawing 5,000
Supplies 1,250
Supplies Expense 2,850
Unearned Revenue 2,500
Utilities Expense 1,000
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