Question

The account balances from the December 31, 2019, trial balance for Haman Accounting Services are shown below. HAPAN ACCOUNTING Trial Balance December 31, 2019 ACCOUNT NAME DEBIT CREDIT Cash 7,600 Accounts Receivable 3,600 Supplies Prepaid Rent 17.ee Equipment 16,000 Accounts Payable 9.200 Erik Haman, Capital 12/1/19 25,000 Erik Haman, Drawing 4,6ee Fees Income Salaries Expense 4.600 Utilities Expense Totals 58.700 58.700 1. Prepare an income statement for the Haman Accounting Services for the month ended December 31, 2019 2. Prepare a statement of owner's equity for Haman Accounting Services for the month ended December 31, 2019 3. Prepare a balance sheet for Haman Accounting Services as of December 31, 2019 Complete this question by entering your answers in the tabs below. Owners Equity Balance Sheet Statement < Prev 12 of 30 Next > e to search 0 Flo H . Dc v BN

Answer 1

Income Statement

Particulars	Amounts($)	Amounts($)
Fees Income	24500
Total Revenue	24500	24500
Less : Operating Expenses
Salaries Expenses	4600
Utilities Expenses	2700
Total Operating Expenses	(7300)	(7300)
Net Operating Income		17200

Statement of Owner's Equity :-

Particulars	Amount ($)
Erik Haman Capital (Beginning)	25000
Add : Net Income	17200
Less : Drawings	(4600)
Erik Haman Capital (Ending)	37600

Balance Sheet :-

Assets	Amount($)	Amount($)
Current Assets :-
Cash	7600
Accounts Receivable	3600
Supplies	2600
Prepaid Rent	17000
Total Current Assets	30800	30800
Fixed Assets :-
Equipment	16000
Total Fixed Assets	16000	16000
Total Assets		46800
Liabilities and Owner's Equity
Current Liabilities:-
Accounts Payable	9200
Total Current Liabilities	9200	9200
Owner's Equity :-
Erik Haman's Capital	37600
Total Owner's Equity	37600	37600
Total Liabilities and Owner's Equity		46800