Salary Expense70,500Accounts Receivable90,000Accumulated Depreciation-Equipment 14,800Supplies3,60074,000EquipmentFees Earned175,200Miscellaneous Expense7,400Salaries Payable1,500Kate, Capital90,40038,00012,000CashKate, DrawingSupplies ExpenseDepreciation ExpenseAccounts Payable6,0004,80024,4001. Prepare and Income Statement2. Prepare a Statement of Owner's Equity3. Prepare a Balance Sheet

Name: Salary Expense70,500Accounts Receivable90,000Accumulated Depreciation
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Description: Salary Expense70,500Accounts Receivable90,000Accumulated Depreciation-Equipment 14,800Supplies3,60074,000EquipmentFees Earned175,200Miscellaneous Expense7,400Salaries Payable1,500Kate, Capital90,40038,00012,000CashKate, DrawingSupplies ExpenseDeprec

Income Statement Particulars Amount Fees Earned 175200 Less: Expenses Salary expense…

Business

Accounting

70,500 Salary Expense Accounts Receivable 90,000 Accumulated Depreciation-Equipment 14,800 Supplies Equipment 3,600 74,000 Fees Earned 175,200 Miscellaneous Expense 7,400 1,500 Salaries Payable Kate, Capital 90,400 Cash 38,000 12,000 Kate, Drawing Supplies Expense Depreciation Expense Accounts Payable 6,000 4,800 24,400 1. Prepare and Income Statement 2. Prepare a Statement of Owner's Equity 3. Prepare a Balance Sheet

70,500 Salary Expense Accounts Receivable 90,000 Accumulated Depreciation-Equipment 14,800 Supplies Equipment 3,600 74,000 Fees Earned 175,200 Miscellaneous Expense 7,400 1,500 Salaries Payable Kate, Capital 90,400 Cash 38,000 12,000 Kate, Drawing Supplies Expense Depreciation Expense Accounts Payable 6,000 4,800 24,400 1. Prepare and Income Statement 2. Prepare a Statement of Owner's Equity 3. Prepare a Balance Sheet

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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