Use the following Worksheet to create the following financial statements for V's Violins: a) Income Statement...

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Use the following Worksheet to create the following financial statements for V's Violins: a) Income Statement V's Violins Worksheet As of Feb 28, 2022 Cash Accounts Receivable Prepaid Insurance Supplies Land building acc depr - building equipment acc. depreciation -equipment A/P Unearned revenue mortgage payable Capital Drawings Revenue Salaries exp utilities exp Interest exp Insurance expense Depreciation expense Supplies Expense b) Statement of Owner's Equity c) Balance Sheet() TOTAL Trial Balance DR 26,000 10,000 4,000 5,000 50,000 90,000 27,000 90,000 15,000 8,000 0 0 0 0 CR 14,000 4,500 4,000 2,000 65,000 180,500 55,000 Adjustments DR 1,000 500 1,000 7,500 2,000 CR 1,000 2,000 6,000 1,500 500 1,000 Adjusted Trial Balance DR 26,000 10,000 3,000 3,000 50,000 90,000 27,000 90,000 15,000 8,000 500 1,000 7,500 2,000 CR 20,000 6,000 4,000 1,000 65,500 180,500* 56,000 325,000 325,000 12,000 12,000 333,000 333,000 *100,000 of the Capital is investment during the year. The rest is the opening Capital. Use the following Worksheet to create the following financial statements for V's Violins: a) Income Statement V's Violins Worksheet As of Feb 28, 2022 Cash Accounts Receivable Prepaid Insurance Supplies Land building acc depr - building equipment acc. depreciation -equipment A/P Unearned revenue mortgage payable Capital Drawings Revenue Salaries exp utilities exp Interest exp Insurance expense Depreciation expense Supplies Expense b) Statement of Owner's Equity c) Balance Sheet() TOTAL Trial Balance DR 26,000 10,000 4,000 5,000 50,000 90,000 27,000 90,000 15,000 8,000 0 0 0 0 CR 14,000 4,500 4,000 2,000 65,000 180,500 55,000 Adjustments DR 1,000 500 1,000 7,500 2,000 CR 1,000 2,000 6,000 1,500 500 1,000 Adjusted Trial Balance DR 26,000 10,000 3,000 3,000 50,000 90,000 27,000 90,000 15,000 8,000 500 1,000 7,500 2,000 CR 20,000 6,000 4,000 1,000 65,500 180,500* 56,000 325,000 325,000 12,000 12,000 333,000 333,000 *100,000 of the Capital is investment during the year. The rest is the opening Capital.

Answer rating: 100% (QA)

a Income Statement for Vs Violins for the year ended February 28 2022 Revenue 100000 Less Expense... View the full answer