O Table 2-1 The following is a list of the accounts and their balances appearing in the ledger of Henry Garage Repairs as of December 31, 2019, the company's year end. The accounts are in alphabetical order and have normal balances. Accounts payable Accounts receivable Cash Equipment Gasoline expense Ian Henry, Capital Ian Henry, Withdrawals Notes payable Rent expense Repairs expense Salary expense Salary payable Service revenue Supplies Supplies expense Truck $450 1,250 400 12,600 600 6,600 500 11,000 1,200 650 700 100 8,250 200 300 8,000 Refer to Table 2-1. Prepare a Statement of Owner's Equity for Henry Garage Repairs for the year ended December 31, 2019. Assume the capital amount did not change since January 1, 2019. 2 Refer to Table 2-1. Prepare an Income statement for Henry Garage Repairs for the year ended December 31, 2019.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Table 2-1
The following is a list of the accounts and their balances appearing in the ledger of Henry Garage
Repairs as of December 31, 2019, the company's year end. The accounts are in alphabetical order
and have normal balances.
Accounts payable
Accounts receivable
Cash
Equipment
Gasoline expense
Ian Henry, Capital
Ian Henry, Withdrawals
Notes payable
Rent expense
Repairs expense
Salary expense
Salary payable
Service revenue
Supplies
Supplies expense
Truck
$450
1,250
400
12,600
600
6,600
500
11,000
1,200
650
700
100
8,250
200
300
8,000
Refer to Table 2-1. Prepare a Statement of Owner's Equity for Henry Garage Repairs for the
year ended December 31, 2019. Assume the capital amount did not change since January 1,
2019.
2
Refer to Table 2-1. Prepare an Income statement for Henry Garage Repairs for the year
ended December 31, 2019.
Transcribed Image Text:Table 2-1 The following is a list of the accounts and their balances appearing in the ledger of Henry Garage Repairs as of December 31, 2019, the company's year end. The accounts are in alphabetical order and have normal balances. Accounts payable Accounts receivable Cash Equipment Gasoline expense Ian Henry, Capital Ian Henry, Withdrawals Notes payable Rent expense Repairs expense Salary expense Salary payable Service revenue Supplies Supplies expense Truck $450 1,250 400 12,600 600 6,600 500 11,000 1,200 650 700 100 8,250 200 300 8,000 Refer to Table 2-1. Prepare a Statement of Owner's Equity for Henry Garage Repairs for the year ended December 31, 2019. Assume the capital amount did not change since January 1, 2019. 2 Refer to Table 2-1. Prepare an Income statement for Henry Garage Repairs for the year ended December 31, 2019.
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