Marcus Enterprises was started by Damien Marcus in 2009. During 201X, Damien Marcus invested $8,000 in...

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Marcus Enterprises was started by Damien Marcus in 2009. During 201X, Damien Marcus invested $8,000 in the business. Based on the following worksheet, prepare and income statement, statement of owner's equity, and balance sheet for Marcus Enterprises for the year ended December 31, 201X. Marcus Enterprises Worksheet For the Year Ended December 31, 201X Adjusted Balance Debit 26,500 Trial Income Statement Debit Credit Debit Credit Balance Sheet Account Title Cash Accounts Receivable Credit 26,500 7,000 7,000 Supplies Equipment Accumulated Depr- Equip Accounts Payable Wages Payable Damien 1,000 1,000 18,500 18,500 5,000 5,000 | 11,000 1,000 8,000 11,000 1,000 8,000 Marcus, Capital Damien Marcus, 2,000 2,000 Drawing Fees Earned 59,500 59,500 Wages Expense Rent Expense Depreciation Expense Totals Net Income (Loss) 19,000 7,000 19,000 7.000 3,500 3,500 84,500 29,500 59,500 55,000 25,000 30,000 59,500 59,500 55,000 55,000 84,500 30,000 Marcus Enterprises was started by Damien Marcus in 2009. During 201X, Damien Marcus invested $8,000 in the business. Based on the following worksheet, prepare and income statement, statement of owner's equity, and balance sheet for Marcus Enterprises for the year ended December 31, 201X. Marcus Enterprises Worksheet For the Year Ended December 31, 201X Adjusted Balance Debit 26,500 Trial Income Statement Debit Credit Debit Credit Balance Sheet Account Title Cash Accounts Receivable Credit 26,500 7,000 7,000 Supplies Equipment Accumulated Depr- Equip Accounts Payable Wages Payable Damien 1,000 1,000 18,500 18,500 5,000 5,000 | 11,000 1,000 8,000 11,000 1,000 8,000 Marcus, Capital Damien Marcus, 2,000 2,000 Drawing Fees Earned 59,500 59,500 Wages Expense Rent Expense Depreciation Expense Totals Net Income (Loss) 19,000 7,000 19,000 7.000 3,500 3,500 84,500 29,500 59,500 55,000 25,000 30,000 59,500 59,500 55,000 55,000 84,500 30,000

Answer rating: 100% (QA)

Income statement For The year ended december 31 201X revenue Fees earned Expe... View the full answer