The adjusted trial balance of West Kayne Consulting is provided in the following worksheet for the month ended Apri130, 2014.

Instructions
(a) Complete the work sheet and prepare a balance sheet as illustrated in this chapter.
(b) How would the balance sheet differ if West Kayne was a corporation instead of proprietorship?

Transcribed Image Text:

WEST KAYNE CONSULTING Work Sheet (Partial) For the Month Ended April 30, 2014 Adjusted Trial Balance Income Statement Balance Sheet 3 Account Titles $17,672 8,520 3,280 18,050 Accounts recevable Prepaid rent Equipment Accumulated depreciation equipment Accounts payable Notes payable Owner's capital Owner's drawings Service revenue Salaries and wages experise Rent expense Depreciation expense Interest expense Interest payable S 4,895 4,472 6,700 34,960 6,250 13,190 8,040 2,260 145 83