Worksheet data for Auburn Company are presented in E4.2. The owner did not make any additional investments
Question:
The owner did not make any additional investments in the business in April.
Instructions
Prepare an income statement, an owners equity statement, and a classifi ed balance sheet.
E4.2
The adjusted trial balance columns of the worksheet for Auburn Company are as follows.
Auburn Company Worksheet (partial) For the Month Ended April 30, 2020 Adjusted Trial Balance Income Statement Balance Sheet Cr. Cr. Cr. Account Titles Dr. Dr. Dr. Cash 10,000 Accounts Receivable 7,840 2,280 Prepaid Rent Equipment 23,050 Accumulated 4,900 Depreciation-Equip. Notes Payable Accounts Payable Owner's Capital Owner's Drawings 5,700 4,920 27,960 3,650 Service Revenue 15,590 Salaries and Wages Expense Rent Expense Depreciation Expense Interest Expense Interest Payable 10,840 760 650 57 57 Totals 59,127 59,127
Step by Step Answer:
AUBURN COMPANY Income Statement For the Month Ended April 30 2020 Revenues Service revenue 15590 Exp...View the full answer
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Related Video
A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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