Question: Once you used the additional information to complete the worksheet, prepare an income statement , statement of owners equity, and balance sheet. Balance Sheet &
Once you used the additional information to complete the worksheet, prepare an income statement , statement of owners equity, and balance sheet.

Balance Sheet & Unadjusted Adjusted Statement of Owner's Equity Trial Balance Trial Balance Income Statemen Adjustments Account Titles Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Cash 70,000 10,000 Accounts Receivable Supplies 3,000 Delivery Vans 120,000 Accum Depr-Vans 48,000 Accounts Payable 15,000 20,000 Unearned Fees Salaries Payable B. Rapid, Capital B. Rapid, Withdrawals 55,000 50,000 Fees Earned 320,000 Salary Expense 177,000 Rent Expense 28,000 Supplies Expense Depreciation Expense Total 458,000 458,000 Net Income Additional Information: 1. On 12/31, the physical count showed $1,000 of unused supplies |2. As of 12/31, depreciation expense of $24,000 has not yet been recorded 3.Unpaid salaries amounted to $5,000 as of 12/31 4. Half of the unadjusted balance in unearned fees has been earned as of 12/31
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
