7 The adjusted trial balance of Wong Consulting Services is as follows: WONG CONSULTING SERVICES Adjusted...

  
 

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7 The adjusted trial balance of Wong Consulting Services is as follows: WONG CONSULTING SERVICES Adjusted Trial Balance December 31, 2021 Debit Credit Cash $2,600 Accounts receivable 1,000 Prepaid insurance 820 Supplies 150 Furniture 14,100 Accumulated depreciation - furniture $1,400 Accounts payable 740 Salaries payable 600 Interest payable 50 Unearned revenue 130 Notes payable, due 2026 2,700 V. Wong, capital 5,000 V. Wong, drawings 8,100 Service revenue 29,570 Rent revenue 680 Depreciation expense 570 Insurance expense 670 Interest expense 100 Rent expense 1,600 Repairs expense 230 Salaries expense 9,600 Supplies expense 850 Utilities expense 480 $40,870 $40,870 During the year, the owner V. Wong invested $1,200 in the business. Prepare an income statement for Wong Consulting Services. WONG CONSULTING SERVICES Income Statement O WONG CONSULTING SERVICES Income Statement O ♥ S tudy inciples, Eight WONG CONSULTING SERVICES Statement of Owner's Equity Prepare a classified balance sheet for Wong Consulting Services. (List Current Assets in order of liquidity.) WONG CONSULTING SERVICES Balance Sheet Assets B B B Weygandt, B O B B Liabilities and Owner's Equity B B B PP. PE S 7 The adjusted trial balance of Wong Consulting Services is as follows: WONG CONSULTING SERVICES Adjusted Trial Balance December 31, 2021 Debit Credit Cash $2,600 Accounts receivable 1,000 Prepaid insurance 820 Supplies 150 Furniture 14,100 Accumulated depreciation - furniture $1,400 Accounts payable 740 Salaries payable 600 Interest payable 50 Unearned revenue 130 Notes payable, due 2026 2,700 V. Wong, capital 5,000 V. Wong, drawings 8,100 Service revenue 29,570 Rent revenue 680 Depreciation expense 570 Insurance expense 670 Interest expense 100 Rent expense 1,600 Repairs expense 230 Salaries expense 9,600 Supplies expense 850 Utilities expense 480 $40,870 $40,870 During the year, the owner V. Wong invested $1,200 in the business. Prepare an income statement for Wong Consulting Services. WONG CONSULTING SERVICES Income Statement O WONG CONSULTING SERVICES Income Statement O ♥ S tudy inciples, Eight WONG CONSULTING SERVICES Statement of Owner's Equity Prepare a classified balance sheet for Wong Consulting Services. (List Current Assets in order of liquidity.) WONG CONSULTING SERVICES Balance Sheet Assets B B B Weygandt, B O B B Liabilities and Owner's Equity B B B PP. PE S

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