Home Insert Draw Page Layout Formulas Data Review View Automate Tell me LE Share Comments Calibri (Body) 11 A A ab Wrap Text v General Insert v Ex Delete v Paste BIUV E E Merge & Center $ ~ % 9 Conditional Format Cell Sort & Find & Analyze Sensitivity Formatting as Table Styles Format v D Filter Select Data G1 X V fx A B C D E F G H 1 J K L M N P Q R S T U V w X Y Z Required On the next tab - The Financial Statement Template, complete the income statement, the statement of owner's equity and the classified balance sheet by filling in the empty blue squares. The information needed to complete the financial statements is in the Adjusted Trial Balance below. Be sure to note the Additional Transactions to the right of the Adjusted Trial Balance. Tybalt Construction Adjusted Trial Balance December 31, 2017 Additional transactions W N Account Title Debit Credit Tybalt invested $5,000 cash in the business during year 2017 (the December 31, 2016, 101 Cash $ 5,000.00 credit balance of the O. Tybalt, Capital account was $121,400). Tybalt Construction is 104 Short-term investment 23,000 required to make a $7,000 payment on its long-term notes payable during 2018. 126 Supplies 8,10 128 Prepaid insurance 7,000 167 Equipment 40,000 168 Accumulated depreciation-Equipment $ 20,000.00 10 173 Building 150,000 174 Accumulated depreciation-Building 50,000 183 Land 55,000 201 Accounts payable 16,500 203 Interest payable 2,50 208 Rent payable 3,500 210 Wages payable 2.500 213 Property taxes payable 900 18 233 Unearned professional fees 7,500 251 Long-term notes payable 67,000 301 0. Tybalt, Capital 126,400 302 0. Tybalt, Withdrawals 13,000 401 Professional fees earned 97,000 406 Rent earned 14,000 407 Dividends earned 2,000 409 Interest earned 2, 100 606 Depreciation expense-Building 11,000 612 Depreciation expense-Equipment 6,000 623 Wages expense 32,000 633 Interest expense 5, 100 637 Insurance expense 10,000 640 Rent expense 13,400 652 Supplies expense 7,40 682 Postage expense 4,200 683 Property taxes expense 5,000 35 684 Repairs expense 8,90 36 688 Telephone expense 3,200 37 690 Utilities expense 4.600.00 38 Totals $ 411,900.00 $ 411,900.00 20D E M N Q R S Tybalt Construction Tybalt Construction Tybalt Construction Income Statement Statement of Owner's Equity Balance Sheet For Year Ended December 31, 2017 For Year Ended December 31, 2017 December 31, 2017 Revenues Assets Professional Fees Earned Beginning O. Tybalt, Capital, January 1, 2017 * Current Assets Rent Earned ADD: Investment by Owner Cash Dividends Earned ADD: Net Income Short-term Investments Interest Earned Check Figure Sub-Total of Beginning Balance and Additions Supplies Total Revenue $ 115,100 LESS: O. Tybalt, Withdrawls Check Figure Prepaid Insurance Check Figure Ending O. Tybalt, Capital, December 31, 2017 117,700 Total Current Assets 43,100 Expenses Plant assets Depreciation Expense - Building * Beginning Capital on January 1, 2017 is the same as the Ending Capital on Equipment Depreciation Expense - Equipment Dec 31, 2016 as found in the Additional Information Box on the Problem Accumulated Depreciation - Equip Wages Expense Tab of this Excel Workbook. Net Equipment Interest Expense Building Insurance Expense Accumulated Depreciation. - Building Rent Expense Net Building Supplies Expense Land Check Figure Postage Expense Total Plant Assets (Net Equipment, Net Building, Land) 175,000 Property Taxes Expense Total Assets 218,100 Repairs Expense Telephone Expense Liabilities Utilities Expense Check Figure Current Liabilities Total Expenses $ 110,800 Accounts Payable Net Income 4,300 Interest Payabkle Rent Payable Wages Payable Property Taxes Payable Unearned Professional Fees Current Portion of Long-Term Notes Payable (*see below) Check Figure Total Current Liabilities 40,400 Long-Term Notes Payable 50,000 Total Liabilities Equity Ending O. Tybalt, Capital - December 31, 2017 Check Figure Total Liabilities and Equity $ 218,100 Hint: Column M contains the subtotals and column N contains the grandtotals. Hint: Refer to the Guided Practice videos and chapter 4 in your ebook. *For Current Portion of Note Payable - See the Additional Transactions box