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Business
Accounting
Accumulated Depreciation-Equipment Accounts Payable Notes Payable Interest Payable Salaries Payable Imelda, Capital Imelda, Drawing Service Income Supplies Expense Rent Expense Salaries 3,500 5,000 9,000 200 1,500 29,600 500 32,000 4,000 5,000 9,500 Insurance Expense Depreciation Expense-furniture Depreciation Expense-equipment Bad Debts 600 2,000 2,000 1,500 300 85,800 Interest Expense TOTAL P 85,800 Required: Prepare a statement of equity for Imelda Services.

Accumulated Depreciation-Equipment Accounts Payable Notes Payable Interest Payable Salaries Payable Imelda, Capital Imelda, Drawing Service Income Supplies Expense Rent Expense Salaries 3,500 5,000 9,000 200 1,500 29,600 500 32,000 4,000 5,000 9,500 Insurance Expense Depreciation Expense-furniture Depreciation Expense-equipment Bad Debts 600 2,000 2,000 1,500 300 85,800 Interest Expense TOTAL P 85,800 Required: Prepare a statement of equity for Imelda Services.

FINANCIAL ACCOUNTING
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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Accumulated Depreciation-Equipment Accounts Payable Notes Payable Interest Payable Salaries Payable Imelda, Capital Imelda, Drawing Service Income 3,500 5,000 9,000 200 1,500 29,600 500 32,000 4,000 5,000 9,500 600 2,000 2,000 1,500 300 P 85,800 Supplies Expense Rent Expense Salaries Insurance Expense Depreciation Expense-furniture Depreciation Expense-equipment Bad Debts Interest Expense TOTAL 85,800 Required: Prepare a statement of equity for Imelda Services.
Transcribed Image Text:Accumulated Depreciation-Equipment Accounts Payable Notes Payable Interest Payable Salaries Payable Imelda, Capital Imelda, Drawing Service Income 3,500 5,000 9,000 200 1,500 29,600 500 32,000 4,000 5,000 9,500 600 2,000 2,000 1,500 300 P 85,800 Supplies Expense Rent Expense Salaries Insurance Expense Depreciation Expense-furniture Depreciation Expense-equipment Bad Debts Interest Expense TOTAL 85,800 Required: Prepare a statement of equity for Imelda Services.
2. IMERLDA SERVICES ADJUSTED TRIAL BALANCE May 31, 2016 Accounts Debit Credit Cash P 8,000 16,500 Accounts Receivable P 2,000 Allowance for uncollectible accounts Office Supplies Prepaid Insurance 600 300 Furniture 10,000 Accumulated Depreciation-Furniture Equipment 3,000 25,000
Transcribed Image Text:2. IMERLDA SERVICES ADJUSTED TRIAL BALANCE May 31, 2016 Accounts Debit Credit Cash P 8,000 16,500 Accounts Receivable P 2,000 Allowance for uncollectible accounts Office Supplies Prepaid Insurance 600 300 Furniture 10,000 Accumulated Depreciation-Furniture Equipment 3,000 25,000
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