Question: Please help me prepare financial statements. Problem 4-11A Preparing financial statements LO6 The adjusted trial balance for Impressions Dance School has been provided for the

 Please help me prepare financial statements. Problem 4-11A Preparing financial statementsLO6 The adjusted trial balance for Impressions Dance School has been providedfor the year ended September 30, 2020. The new bookkeeper alphabetized theaccounts. Account Debit Credit Accounts payable $ 23, 180 Accounts receivable $14,000 Accumulated depreciation, automobiles 39, 860 Accumulated depreciation, building 166,500 Alisha Bjorn,

Please help me prepare financial statements.

capital 180,960 Alisha Bjorn, withdrawals 12,000 Automobiles 73,500 Building 241,000 Cash 12, 100 Copyright 7,400 Depreciation expense, automobiles 7, 600 Depreciation expense, building28,900 Dance lesson revenue 157, 180 Gas, oil, and repairs expense 30,100 Land 33, 400 Land for future expansion 55,000 Notes payable* 95,000Brand name 9,300 Rent revenue 21, 500 Salaries expense 179,000 Store supplies

Problem 4-11A Preparing financial statements LO6 The adjusted trial balance for Impressions Dance School has been provided for the year ended September 30, 2020. The new bookkeeper alphabetized the accounts. Account Debit Credit Accounts payable $ 23, 180 Accounts receivable $ 14,000 Accumulated depreciation, automobiles 39, 860 Accumulated depreciation, building 166,500 Alisha Bjorn, capital 180,960 Alisha Bjorn, withdrawals 12,000 Automobiles 73,500 Building 241,000 Cash 12 , 100 Copyright 7,400 Depreciation expense, automobiles 7, 600 Depreciation expense, building 28,900 Dance lesson revenue 157, 180 Gas, oil, and repairs expense 30, 100 Land 33, 400 Land for future expansion 55,000 Notes payable* 95,000 Brand name 9,300 Rent revenue 21, 500 Salaries expense 179,000 Store supplies 4, 880 Unearned revenue 24,000 Totals $708, 180 $708, 180*The notes payable plus interest are due in 18 months. The owner made no investments during the year. Prepare an income statement for the year ended September 30, 2020. IMPRESSIONS DANCE SCHOOL Income Statement For Year Ended September 30, 2020 Revenues: Dance lesson revenue $ 157,180 Rent revenue 21,500 Total revenues 178,680 Operating expenses: Gas, oil, and repairs expense 30,100 Salaries expense 179,000 Depreciation expense, automobiles 7,600 Depreciation expense, building 28,900 Total operating expenses 245,600 Loss $ (66,920)Prepare a statement of changes in equity for the year ended September 30, 2020. IMPRESSIONS DANCE SCHOOL Statement of Changes in Equity For Year Ended September 30, 2020 Alisha Bjorn, capital, October 1 $ 180,960 Add: Loss Less: Withdrawals Alisha Bjorn, capital, September 30Prepare a classified balance sheet at September 30, 2020. IMPRESSIONS DANCE SCHOOL Balance Sheet September 30, 2020 Assets Current assets: Cash $ 12,100 Accounts receivable 14,000 Store supplies 4,880 Total current assets $ 30,980 Long-term investments: Property, plant and equipment: Building Less: Accumulated depreciation Automobiles Less: Accumulated depreciation Total property, plant and equipment 0 Intangible assets: Copyright Land Land for future expansion 0 Total assets $ 30,980 Liabilities Current liabilities:Liabilities Current liabilities: Accounts payable Unearned revenue Total current liabilities 0 Long-term liabilities: Note payable, due in 18 months Total liabilities 0 Equity Total liabilities and equity 0

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