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EL MAKREZY REPAIRS Adjusted Trial Balance December 31, 2015 No. Account Title Debit Credit 101 Cash $ 14,000   124 Office supplies 1,300   128 Prepaid insurance 2,050   167 Equipment 50,000   168 Accumulated depreciation—Equipment   $ 5,000 201 Accounts payable   14,000 210 Wages payable   600 301 C. El Makrezy, Capital   33,000 302 C. El Makrezy, Withdrawals 16,000   401 Repair fees earned   90,950 612 Depreciation expense—Equipment 5,000   623 Wages expense 37,500   637 Insurance expense 800   640 Rent expense 10,600   650 Office supplies expense 3,600   690 Utilities expense    2,700          Totals $143,550 $143,550 Required Prepare an income statement and a statement of owner’s equity for the year ended on 2015

EL MAKREZY REPAIRS Adjusted Trial Balance December 31, 2015 No. Account Title Debit Credit 101 Cash $ 14,000   124 Office supplies 1,300   128 Prepaid insurance 2,050   167 Equipment 50,000   168 Accumulated depreciation—Equipment   $ 5,000 201 Accounts payable   14,000 210 Wages payable   600 301 C. El Makrezy, Capital   33,000 302 C. El Makrezy, Withdrawals 16,000   401 Repair fees earned   90,950 612 Depreciation expense—Equipment 5,000   623 Wages expense 37,500   637 Insurance expense 800   640 Rent expense 10,600   650 Office supplies expense 3,600   690 Utilities expense    2,700          Totals $143,550 $143,550 Required Prepare an income statement and a statement of owner’s equity for the year ended on 2015

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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Question

EL MAKREZY REPAIRS
Adjusted Trial Balance
December 31, 2015

No.

Account Title

Debit

Credit

101

Cash

$ 14,000

  

124

Office supplies

1,300

  

128

Prepaid insurance

2,050

  

167

Equipment

50,000

  

168

Accumulated depreciation—Equipment

  

$ 5,000

201

Accounts payable

  

14,000

210

Wages payable

  

600

301

C. El Makrezy, Capital

  

33,000

302

C. El Makrezy, Withdrawals

16,000

  

401

Repair fees earned

  

90,950

612

Depreciation expense—Equipment

5,000

  

623

Wages expense

37,500

  

637

Insurance expense

800

  

640

Rent expense

10,600

  

650

Office supplies expense

3,600

  

690

Utilities expense

   2,700

      
 

Totals

$143,550

$143,550

Required

  1. Prepare an income statement and a statement of owner’s equity for the year ended on 2015.
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