Here are some financial data relating to the business of Maélie Morin, owner of Nettoyeur Morin, as of December 31, 2016: Assets Operating Expenses Maellie Morin-Capital at January the 1 Maellie Morin-Withdrawals Liabilities Operating Revenues $55,260 $74,492 $22,000 $25,670 $105,260 Work to do. a) Prepare the income statement for the year ended December 31, 2016. b) Prepare the statement of equity for the year ended December 31, 2016. c) Prepare the company's balance sheet as of December 31, 2016. 0
Here are some financial data relating to the business of Maélie Morin, owner of Nettoyeur Morin, as of December 31, 2016: Assets Operating Expenses Maellie Morin-Capital at January the 1 Maellie Morin-Withdrawals Liabilities Operating Revenues $55,260 $74,492 $22,000 $25,670 $105,260 Work to do. a) Prepare the income statement for the year ended December 31, 2016. b) Prepare the statement of equity for the year ended December 31, 2016. c) Prepare the company's balance sheet as of December 31, 2016. 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Here are some financial data relating to the business of Maélie
Morin, owner of Nettoyeur Morin, as of December 31, 2016:
Assets
Operating Expenses
Maellie Morin-Capital at January the 1"
Maellie Morin-Withdrawals
Liabilities
Operating Revenues
A)
Nettoyeur MORIN
Income statement
At year-end December 31" 2016
B)
a) Prepare the income statement for the year ended December
31, 2016.
b) Prepare the statement of equity for the year ended December
31, 2016.
c) Prepare the company's balance sheet as of December 31,
2016.
0
Nettoyeur MORIN
Statement of changes in Owner's Equity
At year-end December 31" 2016
C)
Assets
Assets
Liabilities
$55,260
$74,492
?
? Liabilities.
Owner's Equity
Maélie Morin Capital?
Total Assets? Total Liabilities
$22,000
Work to do.
$25,670
$105,260
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