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prepare Income Statement, Equity and Financial Position

prepare Income Statement, Equity and Financial Position

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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Please prepare Income Statement, Equity and Financial Position. Thank you!
PERFORMANCE TASK for Application of SCI, SCE, and Worksheet Below is the preliminary Trial Balance of Kayapaba's Service Center for the Calendar year 2018. KAYAPABA'S SERVICE CENTER Mr. J, Capital Office Equipment Accounts Payable 85 000.00 Notes Receivable 12 000.00 Notes Payable 16 600.00 Interest Income 1 200.00 ST 8 000.00 S 360.00 SF Communic ons Cash 18 540.00 1 250.00 S Expense 21 500.00 Interest Expense Tools 220.00 Postage and Stamps Expense Mr. J, Drawing 10 000.00 50.00 S- Accounts 21 460.00 Insurance Expense 4 100.00 S Receivable Mortgage Payable Loan Payable (Short Term) 30 000.00 Service Vehicle 84 700.00 SF 20 000.00 Utilities Expense 160.00 Service Income 78 560.00 Supplies Expense 3 150.00 S Furniture and 8 900.00 Shop Equipment 36 290.00 S Fixtures Salaries Expense 21 000.00 Rental Income 6 000.00 S CS Scanned with CamScanner
Transcribed Image Text:PERFORMANCE TASK for Application of SCI, SCE, and Worksheet Below is the preliminary Trial Balance of Kayapaba's Service Center for the Calendar year 2018. KAYAPABA'S SERVICE CENTER Mr. J, Capital Office Equipment Accounts Payable 85 000.00 Notes Receivable 12 000.00 Notes Payable 16 600.00 Interest Income 1 200.00 ST 8 000.00 S 360.00 SF Communic ons Cash 18 540.00 1 250.00 S Expense 21 500.00 Interest Expense Tools 220.00 Postage and Stamps Expense Mr. J, Drawing 10 000.00 50.00 S- Accounts 21 460.00 Insurance Expense 4 100.00 S Receivable Mortgage Payable Loan Payable (Short Term) 30 000.00 Service Vehicle 84 700.00 SF 20 000.00 Utilities Expense 160.00 Service Income 78 560.00 Supplies Expense 3 150.00 S Furniture and 8 900.00 Shop Equipment 36 290.00 S Fixtures Salaries Expense 21 000.00 Rental Income 6 000.00 S CS Scanned with CamScanner
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