show your work please and Thank you The following is a trial balance from Suzies
ID: 2392774 • Letter: S
Question
show your work please and Thank you
The following is a trial balance from Suzies Sparkle Bead Shop at April 30, 2011 Suzies Sparkle Bead Shop Trial Balance For the Year Ended April 30, 2011 Account Dr Cr 15,00 12 20 unts Rec. Invento Prepaid Rent 3 10 urniture umulated ortization- urniture 4 unts Payable lary Payable nearned Revenue 15 4 Suzies, Capital 11,0 uzies thdrawals Revenue REvenue Discounts Revenue Returns and Allowances Materials Expense 115 2 35 26 13 alary Expense Rent Expense tilities Expense 8,0 154,0 154,0 Required: Prepare an Income Statement, Statement of Equity and a Balance Sheet, all in good form. A) Prepare an Income Statement in good form as demonstrated in the lesson content and in the text Prepare a Statement of Equity in good form as demonstrated in the lesson content and in the text Prepare a Balance Sheet in good form as demonstrated in the lesson content and in the text: B) C)Explanation / Answer
a) Income statement :
b) Statement of owner's equity :
c) Balance sheet :
Revenue 115000 Revenue discounts -5000 Revenue returns and allowance -2000 -7000 Net revenue 108000 Expense : Material expense -35000 Salary expense -26000 Rent expense -13000 Utilities expense -8000 Total expense -82000 Net income 26000Related Questions
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