Question: i need this chart filled out Julio Estela started a small boat repair service company during the current year. He is interested in obtaining a

Julio Estela started a small boat repair service company during the current year. He is interested in obtaining a $100.000 loan from your bank to bulld a dry dock to store boats for customers. At the end of the year, he prepared the following statements based on information stored in a targe fliling cabinet. The following is a summary of completed transactions: a. Received the followina contributions (at fair value) to the business from the owner when it was started in exchange for 1,000 b. Eamed service fees during the current year of $87,000, of the cash collected, $20,000 was for deposits from customers on work to be done by Julio in the next year. c. Recelved the cash dividends on shares of ABC industrial stock purchased by Jullo Estela six years earlier (the stock was not owned by the company) d. Incurred operating expenses during the current year of $61,000 e. Determined amount of supplies on hand (unused) at the end of the current year as $700 f. A temporary employee, subsequently fired, stole $500 cash from the business. There was no insurance coverage for theft. 9. Purchased tools and equipment during the year. Required: 1. On what basis did Julio prepare the income statement? 2. Reconstruct the correct entries under accrual accounting peinciples and post the effects to T-accounts. 3. Prepare an accrual-based income statement, statement of stockholder's equity (only one shareholder), and a clossined baiance sheet. Complete this question by entering your answers in the tabs below. Prepare a statement of stockholder's equity (only one shareholder)
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