please answer do not image. Question 2AccountCash at BankService revenuePrepaid InsuranceMachineAccumulated Depreciation - MachineLandAccounts PayableUnearned service revenueMortgage LoanCapitalDrawingsInterest RevenueAccounts ReceivableDepreciation ExpenseElectricity ExpenseInsurance ExpenseRates ExpenseRent ExpenseWages ExpenseAndreas Accounting ServicesAdjusted Trial BalanceAs at 30 June 2019TOTALSDebits$20,00010,000300,000500,00090,00010,00015,00012,0005,0008,00040,000250,0001,260,000CreditsS510,00030,00050,00040,000300,000260,00070,0001,260,000Required:1. Prepare an Income Statement for Andreas Accounting Services for the year ended 30 June 2019.2. Prepare a Statement of Changes of Equity for Andreas Accounting Services for the year ended30 June 2019.3. Prepare a classified Balance Sheet for Andreas Accounting Services in the narrative format asat 30 June 2019.

Income statement is prepared by the entity for the purpose of reporting the net income. A balance…

Account Cash at Bank Service revenue Prepaid Insurance Machine Accumulated Depreciation - Machine Land Accounts Payable Unearned service revenue Mortgage Loan Capital Drawings Interest Revenue Andreas Accounting Services Adjusted Trial Balance As at 30 June 2019 Accounts Receivable Depreciation Expense Electricity Expense Insurance Expense Rates Expense Rent Expense Wages Expense TOTALS Debits $ 20,000 10,000 300,000 500,000 90,000 10,000 15,000 12,000 5,000 8,000 40,000 250,000 1,260,000 Credits S 510,000 30,000 50,000 40,000 300,000 260,000 70,000 1,260,000 Required: 1. Prepare an Income Statement for Andreas Accounting Services for the year ended 30 June 2019. 2. Prepare a Statement of Changes of Equity for Andreas Accounting Services for the year ended 30 June 2019. 3. Prepare a classified Balance Sheet for Andreas Accounting Services in the narrative format as at 30 June 2019.

Account Cash at Bank Service revenue Prepaid Insurance Machine Accumulated Depreciation - Machine Land Accounts Payable Unearned service revenue Mortgage Loan Capital Drawings Interest Revenue Andreas Accounting Services Adjusted Trial Balance As at 30 June 2019 Accounts Receivable Depreciation Expense Electricity Expense Insurance Expense Rates Expense Rent Expense Wages Expense TOTALS Debits $ 20,000 10,000 300,000 500,000 90,000 10,000 15,000 12,000 5,000 8,000 40,000 250,000 1,260,000 Credits S 510,000 30,000 50,000 40,000 300,000 260,000 70,000 1,260,000 Required: 1. Prepare an Income Statement for Andreas Accounting Services for the year ended 30 June 2019. 2. Prepare a Statement of Changes of Equity for Andreas Accounting Services for the year ended 30 June 2019. 3. Prepare a classified Balance Sheet for Andreas Accounting Services in the narrative format as at 30 June 2019.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 14P: Analyzing Accounts Receivable Upham Companys June 30, 2019, balance sheet included the following...

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