Use the following accounts balances of Welch & Associates to prepare an income statement, a statement...

Transcribed Image Text:

Use the following accounts balances of Welch & Associates to prepare an income statement, a statement of owner's equity, and a balance sheet for the year ended December 31, 2021. The owner made no investments in 2021. Accounts Receivable $11,300 29,100 12,000 $ 300 Wages Payable Unearned Revenue 900 Utilities Expense Office Equipment Wages Expense Supplies Welch, Capital Jan. 1, 2021 49,000 Supplies Expense Services Revenue $ 200 Cash Rent Expense Accounts Payable Prepaid Rent Accumulated Depreciation 3,200 4,800 6,300 800 600 $68,000 52,000 1,000 Welch, Withdrawals 1,900 Use the following accounts balances of Welch & Associates to prepare an income statement, a statement of owner's equity, and a balance sheet for the year ended December 31, 2021. The owner made no investments in 2021. Accounts Receivable $11,300 29,100 12,000 $ 300 Wages Payable Unearned Revenue 900 Utilities Expense Office Equipment Wages Expense Supplies Welch, Capital Jan. 1, 2021 49,000 Supplies Expense Services Revenue $ 200 Cash Rent Expense Accounts Payable Prepaid Rent Accumulated Depreciation 3,200 4,800 6,300 800 600 $68,000 52,000 1,000 Welch, Withdrawals 1,900

Answer rating: 100% (QA)

Income statement For the year ended December 31 2021 Service revenue 68000 Expens... View the full answer