$ 48,000 Linda Stanley, Capital, January 1,2010 Linda Stanley, Drawing during 2010 Advertising expense Rent expense Utilities expense $1,800 10,400 3,100 6,000 62,500 30,000 Service revenue Salaries expense Instructions After analyzing the data, prepare an income statement and an owner's equity statement for the year ending December 31, 2010.

$ 48,000 Linda Stanley, Capital, January 1,2010 Linda Stanley, Drawing during 2010 Advertising expense Rent expense Utilities expense $1,800 10,400 3,100 6,000 62,500 30,000 Service revenue Salaries expense Instructions After analyzing the data, prepare an income statement and an owner's equity statement for the year ending December 31, 2010.

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

E1-12 The following information relates to Linda Stanley Co. for the year 2010.
$ 48,000
Linda Stanley, Capital, January 1, 2010
Linda Stanley, Drawing during 2010
Service revenue
Advertising expense
Rent expense
Utilities expense
$ 1,800
10,400
3,100
6,000
62,500
30,000
Salaries expense
Instructions
After analyzing the data, prepare an income statement and an owner's equity statement for the
year ending December 31, 2010.

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