The ledger of Lazdowski Marketing Services has the following account balances at the company's year end, October 31, 2017:

Instructions
(a) Prepare a trial balance, with the accounts arranged in ledger chapter, and determine the missing amount for fees earned.
(b) Prepare an income statement, of owner's equity and balance sheet.
TAKING IT FURTHER
The owner, Inga Lazdowski, is not sure how much cash she can withdraw from the company each year. After reviewing the financial statements, comment on the amount she withdrew this year.

Transcribed Image Text:

Accounts payable Accounts receivable Advertising expense Cash Equipment Fees earned Furniture I. Lazdowski, capital I. Lazdowski, drawings $ 4,403 6,010 14,970 4,930 25,970 Insurance expense Interest expense Notes payable Prepaid rent Rent expense Salaries expense Supplies Supplies expense Unearned revenue s 2,020 2,445 48,850 975 11,700 20,545 1,240 5,000 3,555 56,685 57,410 75,775