Question: Following are the financial statement data for Jones Temporary Services at December 31, 2018. Prepare Degens income statement, statement of owners equity and balance sheet.

Following are the financial statement data for Jones Temporary Services at December 31, 2018.

Prepare Degens income statement, statement of owners equity and balance sheet.

Accounts Payable 10,000

Accounts Receivable 36,000

Cash 65,000

Repairs Expense 1,250

Prepaid Insurance 3,000

Jones, Capital, 1/1/18 53,000

Contributions by Jones 5,000

Rent Expense 24,000

Utilities Expense 1,000

Fees Earned 63,000

Telephone Expense 750

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