The trial balance of the B Company as of December 31, 2023 is presented below. Prepare...

 

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The trial balance of the B Company as of December 31, 2023 is presented below. Prepare an income statement, statement of owner's equity and a balance sheet for the year ended (date of), December 31, 2023 Every yellow cell requires either an account title or a formula. ALL FORMIILAS FOR TOTALS MUST INCLUDE THE =SUM FUNCTION. Cash Accounts receivable Inventory Prepaid rent Equipment Accounts payable Unearned consulting revenue b, Capital b, Withdrawals Consulting revenue Rental revenue Wages expense Rent expense B Company Trial Balance December 31, 2023 Debit Insurance expense Totals $4,400 300 9,800 2,500 26,100 300 1,500 1,100 400 Credit $6,300 3,100 30,700 5,900 400 1) Prepare an income statement for B Company for the year ended December 31, 2023. B Company Income Statement For Year Ended December 31, 2023 Revenues Total revenues Expenses Total expenses 2) Prepare a statement of owner's equity for B Company for the year ended December 31, 2023. The owner invested $4,600 during the current year (Cell D52). Hint: You must calculate the beginning balance in the capital account. B Company Statement of Owner's Equity For Year Ended December 31, 2023 b, Capital, January 1, 2023 Investment by owner Subtotal Withdrawals by owner b, Capital, December 31, 2023 4,600 3) Prepare a balance sheet for B Company at December 31, 2023. B Company Balance Sheet December 31, 2023 Assets The trial balance of the B Company as of December 31, 2023 is presented below. Prepare an income statement, statement of owner's equity and a balance sheet for the year ended (date of), December 31, 2023 Every yellow cell requires either an account title or a formula. ALL FORMIILAS FOR TOTALS MUST INCLUDE THE =SUM FUNCTION. Cash Accounts receivable Inventory Prepaid rent Equipment Accounts payable Unearned consulting revenue b, Capital b, Withdrawals Consulting revenue Rental revenue Wages expense Rent expense B Company Trial Balance December 31, 2023 Debit Insurance expense Totals $4,400 300 9,800 2,500 26,100 300 1,500 1,100 400 Credit $6,300 3,100 30,700 5,900 400 1) Prepare an income statement for B Company for the year ended December 31, 2023. B Company Income Statement For Year Ended December 31, 2023 Revenues Total revenues Expenses Total expenses 2) Prepare a statement of owner's equity for B Company for the year ended December 31, 2023. The owner invested $4,600 during the current year (Cell D52). Hint: You must calculate the beginning balance in the capital account. B Company Statement of Owner's Equity For Year Ended December 31, 2023 b, Capital, January 1, 2023 Investment by owner Subtotal Withdrawals by owner b, Capital, December 31, 2023 4,600 3) Prepare a balance sheet for B Company at December 31, 2023. B Company Balance Sheet December 31, 2023 Assets

Answer rating: 100% (QA)

Trial Balance B Company Trial Balance December 31 2023 Debit Credit Cash 4400 Accounts Receivable 30... View the full answer