The following account balances were provided by Kate's Consulting Companyas of December 31, 2022.Salary Expense70,500Accounts Receivable90,000Accumulated Depreciation-Equipment 14,8003,600SuppliesEquipment74,000Fees Earned175,200Miscellaneous ExpenseSalaries PayableKate, Capital7,4001,50090,400Cash38,00012,000Kate, DrawingSupplies ExpenseDepreciation ExpenseAccounts Payable6,0004,80024,4001. Prepare and Income Statement2. Prepare a Statement of Owner's Equity

Name: The following account balances were provided by Kate's Consulting Com
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Description: The following account balances were provided by Kate's Consulting Companyas of December 31, 2022.Salary Expense70,500Accounts Receivable90,000Accumulated Depreciation-Equipment 14,8003,600SuppliesEquipment74,000Fees Earned175,200Miscellaneous Expens

Income statement: The income statement determines the net income of the business by subtracting the…

Business

Accounting

The following account balances were provided by Kate's Consulting Company as of December 31, 2022. 70,500 Salary Expense Accounts Receivable 90,000 Accumulated Depreciation-Equipment 14,800 Supplies Equipment 3,600 74,000 Fees Earned 175,200 7,400 Miscellaneous Expense Salaries Payable 1,500 Kate, Capital 90,400

The following account balances were provided by Kate's Consulting Company as of December 31, 2022. 70,500 Salary Expense Accounts Receivable 90,000 Accumulated Depreciation-Equipment 14,800 Supplies Equipment 3,600 74,000 Fees Earned 175,200 7,400 Miscellaneous Expense Salaries Payable 1,500 Kate, Capital 90,400

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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