Use the information in Problem 1-3B to prepare a year-end balance sheet for Audi Company In Problem

Question:

Use the information in Problem 1-3B to prepare a year-end for Audi Company
In Problem 1-3B
As of December 31, 2017, Audi Company's financial records show the following items and amounts.
Cash .................................................... $2,000
Accounts receivable .................................. 1,800
Supplies ................................................ 1,200
Equipment ............................................. 1,000
Accounts payable ..................................... 4,600
A. Audi, Capital, Dec. 31, 2016 .................... 800
A. Audi, Capital, Dec. 31, 2017 .................... 1,400
A. Audi, Withdrawals ............................... 2,600
Consulting revenue ................................... 6,600
Rental revenue ........................................ 4,400
Salaries expense ...................................... 4,000
Rent expense .......................................... 2,400
Selling and administrative expenses ................ 1,600
Early in 2017, the owner invested $200 cash in the business.
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...