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Complete the balance sheet with the data provided in the pictures.  1. Prepare Asset section (left side)     List asset accounts and account balances     Total asset amounts     2. Prepare Liabilities section (right side)     List liability accounts and account balances     Total liability amounts     3. Prepare Owner's Equity section (right side below liabilities)     List owner's Capital and ENDING account balance     4. Total liabilities and owner's equity on same row as total assets.     Do Assets = Liabilities + Owner's Equity?

Complete the balance sheet with the data provided in the pictures.  1. Prepare Asset section (left side)     List asset accounts and account balances     Total asset amounts     2. Prepare Liabilities section (right side)     List liability accounts and account balances     Total liability amounts     3. Prepare Owner's Equity section (right side below liabilities)     List owner's Capital and ENDING account balance     4. Total liabilities and owner's equity on same row as total assets.     Do Assets = Liabilities + Owner's Equity?

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter4: Adjusting Entries And The Work Sheet
Section: Chapter Questions
Problem 2E: Classify each of the accounts listed below as assets (A), liabilities (L), owners equity (OE),...
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Complete the balance sheet with the data provided in the pictures. 

1. Prepare Asset section (left side)    
List asset accounts and account balances
    
Total asset amounts    
2. Prepare Liabilities section (right side)
    
List liability accounts and account balances
    
Total liability amounts    
3. Prepare Owner's Equity section (right side below liabilities)
    
List owner's Capital and ENDING account balance
    
4. Total liabilities and owner's equity on same row as total assets.
    
Do Assets = Liabilities + Owner's Equity?
    
1 2 3 4 7 10 ADJUSTMENTS INCOME STATEMENT CREDIT TRIAL BALANCE BALANCE SHEET ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT DEBIT DEBIT CREDIT 1 Cash 19,266.00 19,266.00 1 2 Account Receivable - New 2 You 1,541.00 1,541.00 3 Accounts Receivable - All Eyes Promotions 4 Computer Equipment 3. 2,500.00 2,500.00 4 5 Office Equipment 1,050.00 1,050.00 5 6 Account Payable - Pro Advertising 650.00 6 2,236.00 |7 650.00 7 Accounts Payable - Auto Doctor 8 Joe Smith, Capital 2,236.00 20,550.00 20,550.00 8 9 Joe Smith, Drawing 1,000.00 (1,000.00) 9 10 Income Summary 10 11 Delivery Sales 12 Advertising Expense 4,345.00 4,345.00 11 275.00 275.00 12 13 Maintenance Expense 14 Rent Expense 15 Utilities Expense 724.00 724.00 13 1,000.00 1,000.00 14 425.00 425.00 15 16 Total 27,781.00 27,781.00 2,424.00 4,345.00 24,357.00 22,436.00 16 17 Net Income 1,921.00 1,921.00 17 18 Total 4,345.00 4,345.00 24,357.00 24,357.00 18 19 19
Transcribed Image Text:1 2 3 4 7 10 ADJUSTMENTS INCOME STATEMENT CREDIT TRIAL BALANCE BALANCE SHEET ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT DEBIT DEBIT CREDIT 1 Cash 19,266.00 19,266.00 1 2 Account Receivable - New 2 You 1,541.00 1,541.00 3 Accounts Receivable - All Eyes Promotions 4 Computer Equipment 3. 2,500.00 2,500.00 4 5 Office Equipment 1,050.00 1,050.00 5 6 Account Payable - Pro Advertising 650.00 6 2,236.00 |7 650.00 7 Accounts Payable - Auto Doctor 8 Joe Smith, Capital 2,236.00 20,550.00 20,550.00 8 9 Joe Smith, Drawing 1,000.00 (1,000.00) 9 10 Income Summary 10 11 Delivery Sales 12 Advertising Expense 4,345.00 4,345.00 11 275.00 275.00 12 13 Maintenance Expense 14 Rent Expense 15 Utilities Expense 724.00 724.00 13 1,000.00 1,000.00 14 425.00 425.00 15 16 Total 27,781.00 27,781.00 2,424.00 4,345.00 24,357.00 22,436.00 16 17 Net Income 1,921.00 1,921.00 17 18 Total 4,345.00 4,345.00 24,357.00 24,357.00 18 19 19
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