FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Account Title                                                       Balance ($)        
Accounts Payable                                               11,700
Accounts Receivable                                          69,000
Accumulated Depreciation - Building                44,200
Building                                                              439,500
Cash                                                                    28,000
Depreciation Expense - Building                         8,750
Insurance Expense                                               2,500
Miscellaneous Expense                                        6,200
Prepaid Insurance                                                2,500
Repairs Expense                                                   3,000
Rent Expense                                                       48,000
Rent Revenue                                                      12,000
Salaries Expense                                                522,100
Salaries Payable                                                    3,000
Service Fees                                                        718,000
S. T., Capital, December 1, 2019                         373,800
S. T., Drawing                                                       12,000
Supplies                                                                  4,600
Supplies Expense                                                  10,800
Unearned Rent                                                       2,000
Utilities Expense                                                     7,150

 prepare  an Income statement (I/S), a Statement of owner's equity (OE/S), and a Classified balance sheet (B/S) on a scratch piece of paper for the business as of December 31, 2019. 

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