A. Performs the trial balance.B. Prepares the income statement.C. Prepares the statement of owner equity.D. Prepares the balance sheet.At Camino Real, Inc.the balance sheets of the accounts are as follows:AccountBalanceCash425,000(Rrenaid insurance)14,000supplies15,000gauinment27,000acceunts receivable123,000notes pavakle53,600ascaunts pavakle26,500Carmelo Ruiz, capital228,100Carmelo Ruiz, drawing20,000fee earned896,300utilities expense9,000salary expense536,000advertising expense3,500rent expense32,000

The financial statement of the business includes income statement, balance sheet and cash flow…

B. Prepares the income statement. C. Prepares the statement of owner equity. D. Prepares the balance sheet. At Camino Real, Inc.the balance sheets of the accounts are as follows: Account Balance Cash |425,000 (Rrepaid insurance) 14,000 supplies 15,000 sauinment. 27,000 asceunts recRixakle. 123,000 notes pavable 53,600 asceunts pavable |26,500 Carmelo Ruiz, capital 228,100 Carmelo Ruiz, dawing 20,000 fee eamed 896,300 utilities expense 9,000

B. Prepares the income statement. C. Prepares the statement of owner equity. D. Prepares the balance sheet. At Camino Real, Inc.the balance sheets of the accounts are as follows: Account Balance Cash |425,000 (Rrepaid insurance) 14,000 supplies 15,000 sauinment. 27,000 asceunts recRixakle. 123,000 notes pavable 53,600 asceunts pavable |26,500 Carmelo Ruiz, capital 228,100 Carmelo Ruiz, dawing 20,000 fee eamed 896,300 utilities expense 9,000

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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