The adjusted trial balance of Kramer's Legal Practice appears below: KRAMER'S LEGAL PRACTICE Adjusted Trial Balance December 31, 2021 Debit Credit Cash $6,400 Accounts receivable 1,200 Office supplies 1,800 Office equipment 8,000 Accumulated depreciation-office equipment $2,500 Computer equipment 6,000 Accumulated depreciation-computer equipment 1,500 Accounts payable 6,000 Unearned revenue 3,000 H. Kramer, capital 12,400

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter3: Review Of A Company's Accounting System
Section: Chapter Questions
Problem 11P: Worksheet Devlin Company has prepared the following partially completed worksheet for the year ended...
icon
Related questions
Question

please answer within 30 minutes..

The adjusted trial balance of Kramer's Legal Practice appears below:
KRAMER'S LEGAL PRACTICE
Adjusted Trial Balance
December 31, 2021
Debit Credit
Cash $6,400
Accounts receivable 1,200
Office supplies 1,800
Office equipment 8,000
Accumulated depreciation-office equipment $2,500
Computer equipment 6,000
Accumulated depreciation-computer equipment 1,500
Accounts payable 6,000
Unearned revenue 3,000
H. Kramer, capital 12,400
H. Kramer, drawings 2,500
Service earned 5,500
Office supplies expense 600
Depreciation expense 2,500
Rent expense 1,900
$30,900 $30,900
Instructions
Using this information, prepare for the month ended December 31:
a) an income statement;
b) a statement of owner's equity; and
a balance sheet.
Transcribed Image Text:The adjusted trial balance of Kramer's Legal Practice appears below: KRAMER'S LEGAL PRACTICE Adjusted Trial Balance December 31, 2021 Debit Credit Cash $6,400 Accounts receivable 1,200 Office supplies 1,800 Office equipment 8,000 Accumulated depreciation-office equipment $2,500 Computer equipment 6,000 Accumulated depreciation-computer equipment 1,500 Accounts payable 6,000 Unearned revenue 3,000 H. Kramer, capital 12,400 H. Kramer, drawings 2,500 Service earned 5,500 Office supplies expense 600 Depreciation expense 2,500 Rent expense 1,900 $30,900 $30,900 Instructions Using this information, prepare for the month ended December 31: a) an income statement; b) a statement of owner's equity; and a balance sheet.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Accounting for Property, Plant and Equipment
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
SWFT Essntl Tax Individ/Bus Entities 2020
SWFT Essntl Tax Individ/Bus Entities 2020
Accounting
ISBN:
9780357391266
Author:
Nellen
Publisher:
Cengage
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Financial Reporting, Financial Statement Analysis…
Financial Reporting, Financial Statement Analysis…
Finance
ISBN:
9781285190907
Author:
James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Publisher:
Cengage Learning
SWFT Comprehensive Volume 2019
SWFT Comprehensive Volume 2019
Accounting
ISBN:
9780357233306
Author:
Maloney
Publisher:
Cengage