Question

Extend You Extend Your Skills EA2-E1 Create Financial Statements for Frozen Fractals Corp. In this exercise, you will create an income statement, statement of owner's equity, and balance sheet in Excel for Frozen Fractals Corp. With the exception of the Jacqueline Elise, Capital account (the balance for which is from 12/1/2016), the company had the following account balances as of 12/31/2016. Accounts Payable Accounts Receivable Auto Expense Cash Furniture $27,000 $4,000 $8,500 $41,000 Land $6,000 $4,100 Office Expense S9,400 Rent Revenue $61,000 Sales Revenue $8,000 Supplies Expense $2,500 Jacqueline Elise, Capital 12/1/2016 $73,200 Telephone Expense $6,100 $3,600 Jacqueline Elise, Drawing $3,000 Utilities Expense When creating the financial statements, be certain to use the techniques from this chapter to present each in good form. EA2-E2 Create Financial Statements for BeBo Industries In this exercise, you will create an income statement, statement of owner's equity, and balance sheet in Excel for BeBo Industries. With the exception of the Lily Ruth, Capital account (the balance for which is from 8/1/2016), the company had the following account balances as of 8/31/2016 Accounts Payable Accounts Receivable Cash Equipment Lily Ruth, Capital - 8/1/2016 Lily Ruth, Drawing Maintenance Expense S3,700 Security Expense $1,200 $3,400 Service Revenue $27,000 Supplies Expense $900 $9,100 Telephone Expense $1,500 $34,000 $1,400 Wages Expense $1,900 $14,100 Utilities Expense$2,100 $3,300 When c reating the financial statements, be certain to use the techniques from this chapter to present each in good form.

Answer 1