2. The following data were taken from the adjusted trial balance columns of the business of Angela Ross. Prepare an income statement and balance sheet from the information given. Cash Accounts Receivable Estimated Uncollectible Accounts Prepaid Rent Prepaid Insurance Office Supplies Office Equipment ANGELA ROSS Adjusted Trial Balance December 31, 19 Accumulated depreciation, office equipment Building Accumulated depreciation, building Notes Payable Interest Payable Accounts Payable Unearned Commission Fees Wages Payable Angela Ross, capital Angela Ross, personal Commission Income Rent Expense Wages Expense Telephone and Utilities Interest Expense Insurance Expense Office Supplies Used Depreciation, office equipment Depreciation, building Debit P 4,250 850 300 450 255 2,180 25,500 1,500 1,750 2,650 385 60 285 190 110 500 P41,215 Credit P 85 218 2,500 1,200 60 2,100 450 120 18,537 15,945 P41,215

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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2. The following data were taken from the adjusted trial balance columns of
the business of Angela Ross. Prepare an income statement and balance sheet
from the information given.
Cash
Accounts Receivable
Estimated Uncollectible Accounts
Prepaid Rent
Prepaid Insurance
Office Supplies
Office Equipment
Accumulated depreciation, office equipment
Building
Accumulated depreciation, building
Notes Payable
Interest Payable
Accounts Payable
Unearned Commission Fees
Wages Payable
Angela Ross, capital
Angela Ross, personal
Commission Income
ANGELA ROSS
Adjusted Trial Balance
December 31, 19
Rent Expense
Wages Expense
Telephone and Utilities
Interest Expense
Insurance Expense
Office Supplies Used
Depreciation, office equipment
Depreciation, building
Debit
P 4,250
850
300
450
255
2,180
25,500
1,500
1,750
2,650
385
60
285
190
110
500
P41,215
Credit
P 85
218
2,500
1,200
60
2,100
450
120
18,537
15,945
P41,215
Transcribed Image Text:2. The following data were taken from the adjusted trial balance columns of the business of Angela Ross. Prepare an income statement and balance sheet from the information given. Cash Accounts Receivable Estimated Uncollectible Accounts Prepaid Rent Prepaid Insurance Office Supplies Office Equipment Accumulated depreciation, office equipment Building Accumulated depreciation, building Notes Payable Interest Payable Accounts Payable Unearned Commission Fees Wages Payable Angela Ross, capital Angela Ross, personal Commission Income ANGELA ROSS Adjusted Trial Balance December 31, 19 Rent Expense Wages Expense Telephone and Utilities Interest Expense Insurance Expense Office Supplies Used Depreciation, office equipment Depreciation, building Debit P 4,250 850 300 450 255 2,180 25,500 1,500 1,750 2,650 385 60 285 190 110 500 P41,215 Credit P 85 218 2,500 1,200 60 2,100 450 120 18,537 15,945 P41,215
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