Prepare an Income Statement and a Balance Sheet. Section 8.4 Page 314 Exercise 5 Vieira Associates Trial

Prepare an Income Statement and a Balance Sheet.

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Section 8.4 Page 314 Exercise 5 Vieira Associates Trial Balance Work Sheet Adjustments Year Ended December 31, 20-- ACCOUNTS Debit Credit Debit Credit Income Statement Debit Credit Bank 5,080.20 Balance Sheet Debit Credit 5,080.20 Accounts Receivable 17,491.00 Supplies 2,635.00 1600.00 Prepaid Insurance 1,800.00 980.00 17,491.00 1,035.00 820.00 Equipment 10,200.00 Accum Amort Equipment 6,022.08 835.58 Automobile 32,500.00 Accum Amort Automobile Accounts Payable 16,575.00 4,802.50 4,777.50 GST Payable 940.20 GST Recoverable C. Vieira, Capital 516.80 21,821.04 C. Vieira, Drawings 48,000.00 Consulting Fees 154,326.00 Automobile Expense 32,756.04 General Expense 1,575.00 Rent Expense 10,000.00 Telephone Expense 1,567.00 10,200.00 6,857.66 32,500.00 21,352.50 4,802.50 940.20 516.80 21,821.04 48,000.00 154,326.00 32,756.04 1,575.00 10,000.00 1,567.00 Wages Expense 40,365.78 40,365.78 204,486.82 204,486.82 Supplies Expense 1600.00 1600.00 Insurance Expense Depreciation Expense - Equipment Depreciation Expense - Automobile 980.00 980.00 835.58 4,777.50 8193.08 Net Income 835.58 4,777.50 8193.08 94,456.90 154,326.00 115,643.00 55,773.90 59,869.10 59,869.10 154,326.00 154,326.00 115,643.00 115,643.00 Section 8.4 Page 314 Exercise 5 Vieira Associates Trial Balance Work Sheet Adjustments Year Ended December 31, 20-- ACCOUNTS Debit Credit Debit Credit Income Statement Debit Credit Bank 5,080.20 Balance Sheet Debit Credit 5,080.20 Accounts Receivable 17,491.00 Supplies 2,635.00 1600.00 Prepaid Insurance 1,800.00 980.00 17,491.00 1,035.00 820.00 Equipment 10,200.00 Accum Amort Equipment 6,022.08 835.58 Automobile 32,500.00 Accum Amort Automobile Accounts Payable 16,575.00 4,802.50 4,777.50 GST Payable 940.20 GST Recoverable C. Vieira, Capital 516.80 21,821.04 C. Vieira, Drawings 48,000.00 Consulting Fees 154,326.00 Automobile Expense 32,756.04 General Expense 1,575.00 Rent Expense 10,000.00 Telephone Expense 1,567.00 10,200.00 6,857.66 32,500.00 21,352.50 4,802.50 940.20 516.80 21,821.04 48,000.00 154,326.00 32,756.04 1,575.00 10,000.00 1,567.00 Wages Expense 40,365.78 40,365.78 204,486.82 204,486.82 Supplies Expense 1600.00 1600.00 Insurance Expense Depreciation Expense - Equipment Depreciation Expense - Automobile 980.00 980.00 835.58 4,777.50 8193.08 Net Income 835.58 4,777.50 8193.08 94,456.90 154,326.00 115,643.00 55,773.90 59,869.10 59,869.10 154,326.00 154,326.00 115,643.00 115,643.00