The completed financial statement columns of the worksheet for Carlos Company Instructions(a) Prepare an income statement, owner??s
Question:
The completed financial statement columns of the worksheet for Carlos Company
Instructions(a) Prepare an income statement, owner??s equity statement, and a classified balance sheet.B. Carlos made an additional investment in the business of $4,000 during 2012.(b) Prepare the closing entries.(c) Post the closing entries and rule and balance the accounts. Use T accounts. Income Summary is account No. 350.(d) Prepare a post-closing trial balance.
CARLOS COMPANY Worksheet For the Year Ended December 31, 2012 Income Statement Balance Sheet Account No. Account Titles Dr. Cr. Dr. Cr. 101 Cash 6,200 112 Accounts Receivable 7,500 Prepaid Insurance Equipment Accumulated Depreciation-Equip. Accounts Payable Salaries and Wages Payable Owner's Capital Owner's Drawings 130 1,800 157 33,000 167 8.600 201 11,700 212 3,000 301 34,000 306 7,200 400 Service Revenue 46,000 Maintenance and Repairs Expense Depreciation Expense Insurance Expense Salaries and Wages Expense Utilities Expense 622 4,400 2,800 711 722 1,200 35.200 726 732 4,000 55,700 Totals 47.600 46,000 57,300 Net Loss 1.600 1,600 57.300 57.300 47.600 47.600
Step by Step Answer:
a CARLOS COMPANY Income Statement For the Year Ended December 31 2012 Revenues Service revenue 46000 Expenses Salaries and wages expense 35200 Mainten...View the full answer
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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