Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Your manager has asked that you create the monthly financial statements for ABC Company. They gave you the following account numbers for June 31, 2018.
Your manager has asked that you create the monthly financial statements for ABC Company. They gave you the following account numbers for June 31, 2018.
Accounts Payable 3000
Cash 26,000
Owners Capital 15,000
Advertising Expense 3,000
Sales Revenue 40,000
Office Supplies 1,500
Wages Expense 10,000
Notes Payable 6000
Rent Expense 5,000
Office Equipment 4,000
Accounts Receivable 12,000
Owners Withdrawals 2,500
create the:
Income Statement
Balance Sheet
Statement of Owners Equity.
In addition to using the accounts above, be sure to use proper format.
Check your work! A Balance Sheet total of $43,500 will mean you have completed all transactions perfectly.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started