required: INcome statement, Statement of changes in owners equity, and balance sheetthank you Chapter 3Financial StatemeELucille Ball is the owner of Speedy Trucking Company. On March 31, 200F, alterthree months of operations, the following balances were obtained from the trialbalance.L. Ball CapitalOffice EquipmentLoan Payable (short-term)CashToolsL. Ball DrawingP 15,0006,1903,150360P 280,000 Salaries Expense48,290 Gas & Oil Expenses16,600 Supplies Expense18,540 Receivable from Employee21,500 Tel. & Telegrams Expense 1,25010,000 Truck145,500 Taxes & Licenses28,900 Miscellaneous ExpenseTrucking Service FeesFurniture & Fixtures284,7004,010210All transactions were purely on a cash basis.REQUIRED:1. Income Statement2. Statement of Changes in Owner's Equity3. Balance Sheet

The income statement shows the net income or loss of the company. Whereas, the balance sheet shows…

Answered: 3 Lucille Ball is the owner of Speedy…

3 Lucille Ball is the owner of Speedy Trucking Company. On March 31, 20OF, ate three months of operations, the following balances were obtained from the triai balance. L. Ball Canital

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter1: Introduction To Accounting And Business

Section: Chapter Questions

Problem 4PB: Transactions; financial statements 2. Net income: 10,850 On April 1, 20Y8, Maria Adams established...

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Question

required: INcome statement, Statement of changes in owners equity, and balance sheet

thank you

Chapter 3
Financial Stateme
E
Lucille Ball is the owner of Speedy Trucking Company. On March 31, 200F, alter
three months of operations, the following balances were obtained from the trial
balance.
L. Ball Capital
Office Equipment
Loan Payable (short-term)
Cash
Tools
L. Ball Drawing
P 15,000
6,190
3,150
360
P 280,000 Salaries Expense
48,290 Gas & Oil Expenses
16,600 Supplies Expense
18,540 Receivable from Employee
21,500 Tel. & Telegrams Expense 1,250
10,000 Truck
145,500 Taxes & Licenses
28,900 Miscellaneous Expense
Trucking Service Fees
Furniture & Fixtures
284,700
4,010
210
All transactions were purely on a cash basis.
REQUIRED:
1. Income Statement
2. Statement of Changes in Owner's Equity
3. Balance Sheet

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