Make the trial balance. B. Prepare the income statement. C. Prepare the statement of owner equity....
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Make the trial balance. B. Prepare the income statement. C. Prepare the statement of owner equity. D. Prepare the balance sheet. At Camino Real, Inc. the account balances are as follows: Account Cash Prepaid insurance Materials (supplies) Equipment Accounts receivable Notes payable Accounts payable Carmelo Ruiz, capital Carmelo Ruiz, drawing Fee earned Utilities expense Salary expense Advertising expense Rent expense Balance 425,000 14,000 15,000 27,000 123,000 53,600 26,500 228,100 20,000 896,300 9,000 536,000 3,500 32,000 Make the trial balance. B. Prepare the income statement. C. Prepare the statement of owner equity. D. Prepare the balance sheet. At Camino Real, Inc. the account balances are as follows: Account Cash Prepaid insurance Materials (supplies) Equipment Accounts receivable Notes payable Accounts payable Carmelo Ruiz, capital Carmelo Ruiz, drawing Fee earned Utilities expense Salary expense Advertising expense Rent expense Balance 425,000 14,000 15,000 27,000 123,000 53,600 26,500 228,100 20,000 896,300 9,000 536,000 3,500 32,000
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To prepare the financial statements we will start with the trial balance provided and use the accoun... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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