Selected data from the ledger of Burt Co., after adjustments, on September 30, the end of the fiscal year, are listed a Accounts Receivable Accumulated Depreciation Office Equipment Prepaid Insurance $39,120 $82,700 60,540 4,680 Administrative Expenses Bob Burt, Capital Note Payable Salaries Payable Sales Selling Expenses Supplies 90,000 77,750 85,000 3,060 Bob Burt, Drawing Cost of Merchandise Sold Interest Revenue 65,000 950,000 550,000 102,000 3,125 10,000 Prepare a single-step income statement. Burt Co. Income Statement For the Year Ended September 30 Revenues: Total revenues Expenses: Total expenses Prepare a statement of owner's equity. Burt Co. Statement of Owner's Equity For the Year Ended September 30
Selected data from the ledger of Burt Co., after adjustments, on September 30, the end of the fiscal year, are listed a Accounts Receivable Accumulated Depreciation Office Equipment Prepaid Insurance $39,120 $82,700 60,540 4,680 Administrative Expenses Bob Burt, Capital Note Payable Salaries Payable Sales Selling Expenses Supplies 90,000 77,750 85,000 3,060 Bob Burt, Drawing Cost of Merchandise Sold Interest Revenue 65,000 950,000 550,000 102,000 3,125 10,000 Prepare a single-step income statement. Burt Co. Income Statement For the Year Ended September 30 Revenues: Total revenues Expenses: Total expenses Prepare a statement of owner's equity. Burt Co. Statement of Owner's Equity For the Year Ended September 30
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Selected data from the ledger of Burt Co., after adjustments, on September 30, the end of the fiscal year, are listed a
Accounts Receivable
Accumulated Depreciation
Office Equipment
Prepaid Insurance
$39,120
$82,700
60,540
4,680
Administrative Expenses
Bob Burt, Capital
Note Payable
Salaries Payable
Sales
Selling Expenses
Supplies
90,000
77,750
85,000
3,060
Bob Burt, Drawing
Cost of Merchandise Sold
Interest Revenue
65,000
950,000
550,000
102,000
3,125
10,000
Prepare a single-step income statement.
Transcribed Image Text:Burt Co.
Income Statement
For the Year Ended September 30
Revenues:
Total revenues
Expenses:
Total expenses
Prepare a statement of owner's equity.
Burt Co.
Statement of Owner's Equity
For the Year Ended September 30
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