The following is a trial balance of Mrs. Arlene So, CPA for the month of December 20A. Mrs. Arlene So Trial Balance December 31, 20A Debit P 35,000 20,000 15,000 60,000 75,000 Credit Cash on Hand Accounts Receivable Office Supplies Office Equipment Furniture & Fixtures P 27,000 126,300 Accounts Payable A.So, Capital A.So, Drawing Accounting & Auditing Fees Other Income 10,000 85,000 5,000 3,500 10,500 2,300 12,000 P243,300 Taxes & Licenses Rent Expense Utilities Expense Salaries Expense Total P243,300 Prepare the following: 1. Simple Worksheet 2. Income statement 3. Statement of Changes in Owner's Equity
The following is a trial balance of Mrs. Arlene So, CPA for the month of December 20A. Mrs. Arlene So Trial Balance December 31, 20A Debit P 35,000 20,000 15,000 60,000 75,000 Credit Cash on Hand Accounts Receivable Office Supplies Office Equipment Furniture & Fixtures P 27,000 126,300 Accounts Payable A.So, Capital A.So, Drawing Accounting & Auditing Fees Other Income 10,000 85,000 5,000 3,500 10,500 2,300 12,000 P243,300 Taxes & Licenses Rent Expense Utilities Expense Salaries Expense Total P243,300 Prepare the following: 1. Simple Worksheet 2. Income statement 3. Statement of Changes in Owner's Equity
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![The following is a trial balance of Mrs. Arlene So, CPA for the month of
December 20A.
Mrs. Arlene So
Trial Balance
December 31, 20A
Debit
P 35,000
20,000
15,000
60,000
75,000
Credit
Cash on Hand
Accounts Receivable
Office Supplies
Office Equipment
Furniture & Fixtures
P 27,000
126,300
Accounts Payable
A.So, Capital
A.So, Drawing
Accounting & Auditing Fees
Other Income
10,000
85,000
5,000
3,500
10,500
2,300
12,000
P243,300
Taxes & Licenses
Rent Expense
Utilities Expense
Salaries Expense
Total
P243,300
Prepare the following:
1. Simple Worksheet
2. Income statement
3. Statement of Changes in Owner's Equity
4. Statement of Financial Position](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3c0b7028-1697-47c9-82a9-dfe367f1d3bc%2Fc1d00e44-6d32-4176-aa2f-acdd26d64ba3%2F59xe3o_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following is a trial balance of Mrs. Arlene So, CPA for the month of
December 20A.
Mrs. Arlene So
Trial Balance
December 31, 20A
Debit
P 35,000
20,000
15,000
60,000
75,000
Credit
Cash on Hand
Accounts Receivable
Office Supplies
Office Equipment
Furniture & Fixtures
P 27,000
126,300
Accounts Payable
A.So, Capital
A.So, Drawing
Accounting & Auditing Fees
Other Income
10,000
85,000
5,000
3,500
10,500
2,300
12,000
P243,300
Taxes & Licenses
Rent Expense
Utilities Expense
Salaries Expense
Total
P243,300
Prepare the following:
1. Simple Worksheet
2. Income statement
3. Statement of Changes in Owner's Equity
4. Statement of Financial Position
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