The following adjusted trial balance is provided for Alonzo Institute for the year ended on December...

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The following adjusted trial balance is provided for Alonzo Institute for the year ended on December 31, 2015. Cash.... Accounts receivable. Teaching supplies.. Prepaid insurance... Prepaid rent........ Professional library. Accumulated depreciation Equipment. Accumulated depreciation Equipment.. Salaries expense.... Insurance expense. ******** ALONZO INSTITUTE Adjusted Trial Balance December 31, 2015 Accounts payable. Salaries payable. Unearned revenue. C. Alonzo, Capital.... C. Alonzo, Withdrawals. Tuition revenue... Training revenue........... Depreciation expense-Professional library... Depreciation expense-Equipment. Rent expense. Teaching supplies expense. Advertising expense. Utilities expense Totals. ******* Professional library. ********* ***** Debit $ 60,000 5,750 20,000 9,500 0 12,000 40,000 20,000 2,400 5,000 44,650 9,500 33,400 50,000 19,000 13,400 $344,600 Credit $ 4,900 25,000 11,200 450 0 71,500 134,950 96,600 $344.600 Required: - Prepare the company's income statement and statement of owner's equity for the year 2015 and prepare its balance sheet as of December 31, 2015. The following adjusted trial balance is provided for Alonzo Institute for the year ended on December 31, 2015. Cash.... Accounts receivable. Teaching supplies.. Prepaid insurance... Prepaid rent........ Professional library. Accumulated depreciation Equipment. Accumulated depreciation Equipment.. Salaries expense.... Insurance expense. ******** ALONZO INSTITUTE Adjusted Trial Balance December 31, 2015 Accounts payable. Salaries payable. Unearned revenue. C. Alonzo, Capital.... C. Alonzo, Withdrawals. Tuition revenue... Training revenue........... Depreciation expense-Professional library... Depreciation expense-Equipment. Rent expense. Teaching supplies expense. Advertising expense. Utilities expense Totals. ******* Professional library. ********* ***** Debit $ 60,000 5,750 20,000 9,500 0 12,000 40,000 20,000 2,400 5,000 44,650 9,500 33,400 50,000 19,000 13,400 $344,600 Credit $ 4,900 25,000 11,200 450 0 71,500 134,950 96,600 $344.600 Required: - Prepare the company's income statement and statement of owner's equity for the year 2015 and prepare its balance sheet as of December 31, 2015.

Answer rating: 100% (QA)

Income Statement for the Year 2015 Tuition Revenue 134950 Training Revenue 96600 Total Revenue 23155... View the full answer