Statement of financial position Cash12,000Accounts Receivable7,800Prepaid Rent2,200Equipment23,200AccumulatedDepreciation Equipment5,300Notes Payable5,800Accounts Payable4,800Owner's Capital29,750Owner's Drawings3,800Service Revenue15,600Salaries and WagesExpense10,600Rent Expense900Depreciation Expense750Interest ExpenseInterest PayableTotals61,33061,330

Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net…

Cash 12.000 Accounts Receivable 7,800 Prepaid Rent 2.200 Equipment 23,200 Accumutated Depreciation Equipment 5,300 Notes Payabte 5,000 Accounts Payable 4,600 Owner's Capital 29,750 Owner's Drawings 3,600 Service Revenue 15,600 Salaries and Wages Expense 10,600 Rent Expense 900

Cash 12.000 Accounts Receivable 7,800 Prepaid Rent 2.200 Equipment 23,200 Accumutated Depreciation Equipment 5,300 Notes Payabte 5,000 Accounts Payable 4,600 Owner's Capital 29,750 Owner's Drawings 3,600 Service Revenue 15,600 Salaries and Wages Expense 10,600 Rent Expense 900

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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Question

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Statement of financial position

Cash
12,000
Accounts Receivable
7,800
Prepaid Rent
2,200
Equipment
23,200
Accumulated
Depreciation Equipment
5,300
Notes Payable
5,800
Accounts Payable
4,800
Owner's Capital
29,750
Owner's Drawings
3,800
Service Revenue
15,600
Salaries and Wages
Expense
10,600
Rent Expense
900
Depreciation Expense
750
Interest Expense
Interest Payable
Totals
61,330
61,330

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