Prepare an Income Statement, Balance Sheet, and Statement of Owner’s Equity. Assume that the capital account started with a beginning balance of $10,000.   Hint: There were $2,000 of contributions during the period.      Bogie Company Adjusted Trial Balance December 31, 2019 Cash $8,100   Accounts Receivable 2,300   Prepaid Expenses 750   Equipment 13,400   Accumulated Depreciation   1,200 Accounts Payable   1,700 Notes Payable – Due on June 30, 2020   5,000 Bogie Myer, Capital   12,000 Bogie Myer, Drawing 870   Fees Earned   8,570 Wages Expense 1,450   Rent Expense 900   Utilities Expense 475   Depreciation Expense 150   Miscellaneous Expense 75     $28,470 $28,470   Hint: You may not need to fill in every open box       Bogie Company Income Statement For the Year Ended December 31, 2019                                                         Bogie Company Statement of Owner’s Equity For the Year Ended December 31, 2019                                     Bogie Myer, Capital, December 31, 2019       Bogie Company Balance Sheet December 31, 2019 Assets Liabilities Current Assets:     Current Liabilities:                                Total Liabilities      Total current assets         Property, Plant, & Equip.:                         Owner’s Equity    Total Prop., Plant, & Equip.         Total Assets     Total Liabilities and Owner’s Equity

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Prepare an Income Statement, Balance Sheet, and Statement of Owner’s Equity. Assume that the capital account started with a beginning balance of $10,000.

 

Hint: There were $2,000 of contributions during the period. 

 

 

Bogie Company

Adjusted Trial Balance

December 31, 2019

Cash

$8,100

 

Accounts Receivable

2,300

 

Prepaid Expenses

750

 

Equipment

13,400

 

Accumulated Depreciation

 

1,200

Accounts Payable

 

1,700

Notes Payable – Due on June 30, 2020

 

5,000

Bogie Myer, Capital

 

12,000

Bogie Myer, Drawing

870

 

Fees Earned

 

8,570

Wages Expense

1,450

 

Rent Expense

900

 

Utilities Expense

475

 

Depreciation Expense

150

 

Miscellaneous Expense

75

 

 

$28,470

$28,470

 

Hint: You may not need to fill in every open box

 

 

 

Bogie Company

Income Statement

For the Year Ended December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bogie Company

Statement of Owner’s Equity

For the Year Ended December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bogie Myer, Capital, December 31, 2019

 

 

 

Bogie Company

Balance Sheet

December 31, 2019

Assets

Liabilities

Current Assets:

 

 

Current Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Total Liabilities

 

   Total current assets

 

 

 

 

Property, Plant, & Equip.:

 

 

 

 

 

 

 

 

 

 

 

 

Owner’s Equity

   Total Prop., Plant, & Equip.

 

 

 

 

Total Assets

 

 

Total Liabilities and Owner’s Equity

 

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