Below is Bretman Services financial accounting information for the year ending September 30, 2019. Using this...
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Below is Bretman Services financial accounting information for the year ending September 30, 2019. Using this information, prepare the Income Statement, Statement of Owners' Equity and then the Balance Sheet for the end of September 2019. Bretman Services Trial Balance September 30, 2019 Account Title Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Bank Loan Service Revenue Insurance Expense Depreciation Expense Rent Expense Salaries Expense Telephone Expense Note: Eston, Capital on October 1, 2018 was $12,000. During the year, the owner withdrew $6,000 for personal use. At the end of the year, the owner made an additional investment of $1,330. Service Revenue Do not enter dollar signs, negative signs, or commas in the input boxes. Expenses: Insurance Expense Depreciation Expense Bretman Services Income Statement For the Year Ending September 30, 2019 Rent Expense Salaries Expense Debit Credit $22.480 2.540 1,830 7,000 Telephone Expense 1.280 660 1,060 1,990 190 Total Expenses 2.300 5,300 1,000 7,000 16,100 Net Income (Loss) Eston, Capital at October 1, 2018 Add: Additional Investments Net Income (Loss) Subtotal Less: Eston, Withdrawals Eston, Capital at September 30, 2019 Assets: Bretman Services Statement of Owner's Equity For the Year Ending September 30, 2019 Cash Accounts Receivable Prepaid Insurance Equipment Total Assets Accumulated Depreciation Liabilities: Accounts Payable Unearned Revenue Bank Loan Total Liabilities Bretman Services Balance Sheet As at September 30, 2019 Eston, Capital at September 30, 2019 Liabilities & Owner's Equity Below is Bretman Services financial accounting information for the year ending September 30, 2019. Using this information, prepare the Income Statement, Statement of Owners' Equity and then the Balance Sheet for the end of September 2019. Bretman Services Trial Balance September 30, 2019 Account Title Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Bank Loan Service Revenue Insurance Expense Depreciation Expense Rent Expense Salaries Expense Telephone Expense Note: Eston, Capital on October 1, 2018 was $12,000. During the year, the owner withdrew $6,000 for personal use. At the end of the year, the owner made an additional investment of $1,330. Service Revenue Do not enter dollar signs, negative signs, or commas in the input boxes. Expenses: Insurance Expense Depreciation Expense Bretman Services Income Statement For the Year Ending September 30, 2019 Rent Expense Salaries Expense Debit Credit $22.480 2.540 1,830 7,000 Telephone Expense 1.280 660 1,060 1,990 190 Total Expenses 2.300 5,300 1,000 7,000 16,100 Net Income (Loss) Eston, Capital at October 1, 2018 Add: Additional Investments Net Income (Loss) Subtotal Less: Eston, Withdrawals Eston, Capital at September 30, 2019 Assets: Bretman Services Statement of Owner's Equity For the Year Ending September 30, 2019 Cash Accounts Receivable Prepaid Insurance Equipment Total Assets Accumulated Depreciation Liabilities: Accounts Payable Unearned Revenue Bank Loan Total Liabilities Bretman Services Balance Sheet As at September 30, 2019 Eston, Capital at September 30, 2019 Liabilities & Owner's Equity
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Answer rating: 100% (QA)
Prepare the income statement as follows Bretman Service Income Statement For the year en... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0470161012
9th Canadian Edition, Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
Posted Date:
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