Please find a way to solve this without adding another account such as profit/loss, thank you! 2. Complete the income statement and balance sheet portions of the worksheet below, includingthe total columns.GOMEZ COMPANYPartial WorksheetMonth ending April 30, 2017Adjusted Trial Bal.Income StatementBalance SheetAccount TitleDr.Cr.Dr.Cr.Dr.Cr.Cash11,400Accounts Receivable7,0002,00020,000Prepaid RentEquipmentAccum. Depreciation -EquipmentNotes PayableAccounts PayableOwner's CapitalOwner's Drawings4,7005,0004,95025,8003,500Service Revenue14,000Salaries and Wages ExpenseRent ExpenseDepreciation ExpenseInterest ExpenseInterest Payable9,4505006005050TOTALS54,50054,500

The income statement and balance sheet are the important financial statements of the business.

2. Complete the income statement and balance sheet portions of the worksheet below, including the total columns. GOMEZ COMPANY Partial Worksheet Month ending April 30, 2017 Adjusted Trial Bal. Balance Sheet Income Statement Dr. Account Title Dr. Cr. Cr. Dr. Cr. 11,400 7,000 2,000 20,000 Cash Accounts Receivable Prepaid Rent Equipment Accum. Depreciation - Equipment Notes Payable Accounts Payable Owner's Capital Owner's Drawings 4,700 5,000 4,950 25,800 3,500 Service Revenue 14,000 Salaries and Wages Expense Rent Expense Depreciation Expense Interest Expense 9,450 500 600 50 Interest Payable 50 TOTALS 54,500 54,500

2. Complete the income statement and balance sheet portions of the worksheet below, including the total columns. GOMEZ COMPANY Partial Worksheet Month ending April 30, 2017 Adjusted Trial Bal. Balance Sheet Income Statement Dr. Account Title Dr. Cr. Cr. Dr. Cr. 11,400 7,000 2,000 20,000 Cash Accounts Receivable Prepaid Rent Equipment Accum. Depreciation - Equipment Notes Payable Accounts Payable Owner's Capital Owner's Drawings 4,700 5,000 4,950 25,800 3,500 Service Revenue 14,000 Salaries and Wages Expense Rent Expense Depreciation Expense Interest Expense 9,450 500 600 50 Interest Payable 50 TOTALS 54,500 54,500

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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