Question

with this info prepare a balance sheet for the plumbing services from the adjusted trial balancee. The owner of the company dodnt make and additional investments in the company during the year

45,000 12,500 70,900 Curtis's Plumbing Services Adjusted Trial Balance For the year ended December 31 Cash $32,000 Accounts receivable 15,200 Office supplies 1,700 Vehicles 100,000 Accumulated depreciation-Vehicles Accounts payable Curtis Kouts, Capital Curtis Kouts, 40,000 Withdrawals Fees earned Rent expense 13,000 Office supplies expense 2,000 Utilities expense 2,500 Depreciation Expense- 15.000 Vehicles Salary expense 50,000 Fuel expense - 12.000 Totals $283,400 155,000 $283.400

Answer 1

$ 155,000 Curtis's Plumbing Services Income Statement For the Year Ended December 31 Fees Earned Operating expenses: Rent expense $ 13,000 Office Supplies expense $ 2,000 Utilities Expense $ 2,500 Depreciation Expense - Vehicles $ 15,000 Salary Expense $ 50,000 Fuel Expense $ 12,000 Total operating expenses Net Income $ $ 94,500 60,500 Curtis's Plumbing Services Statement of Owners' Equity For the Year Ended December 31 Curtis Kouts, Capital $ Add: Net Income $ $ Less: Curtis Kouts, Drawings $ Curtis Kouts, Capital (ending) $ 70,900 60,500 131,400 40,000 91,400

Balance Sheet Assets Current assets Cash Accounts receivable Office Supplies Total Current Assets Non-current assets Vehicles Less: Accumulated Depreciation Vehicles Total Assets $ $ $ 32,000 15,200 1,700 $ 48,900 $ $ 100,000 45,000 $ $ 55,000 103,900 Liabilities and Owners' Capital Current liabilities Accounts Payable Total Laibilities Owner's Capital Curtis Kouts, Capital Total Liabilities and Stockholders' Equity $ $ 12,500 12,500 $ $ 91,400 103,900