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The adjusted trial balance of Karise Repairs on December 31, 2013, follows. KARISE REPAIRS Adjusted Trial Balance December 31
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Karise Repairs gtatment the orended December 3,201? Income Particulars Revenue par fer Amount C 90,950 To tal Ravenw 90,950Sheet Ba lande n ot Becemben 31, ?D13 Anount () A&set iabilihe APOUNT (A) Cash (4,00D ne pplten 1, OSD Prepan d insurud ee EqJournal Accoun TiHer Dob (Credt (6) bls Repair fer Eoned 90,950 90,450 Income 8hatement (Beny Skitement hron ferred ts Inceme

4. In case, we consider $800 as prepaid insurance expense, the net income will be reduced by $800 and the asset will increase by $800.

Net income =30,750-800=29,950.

Capital= 33,000-16,000+29,950=46,950

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