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The account balances appearing on the trial balance (below) were
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The account balances appearing on the trial balance (below) were taken from the general ledger of for Mandy Company as at 31st December 2014 Mandy Company
Additional information for the month of September which has not yet been recorded in the accounts is as follows: Trial balance as at 31st December 2014
(a) A physical count of supplies indicates $600 on hand at December 31. Adjusted Income Statement
(b)The amount of insurance that expired in December 31.was $500. Trial Balance Adjustments Trial Balance Balance Sheet
(c)Depreciation on equipment for December 31 was $1400. Account Titles Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
(d)Rent owed for the month December was $2000 but will not be paid until January 2015. Cash 9,000
(e)Service revenue earned in the month of December is $ 1,300 Supplies 3,300
Instructions Prepaid Insurance 6,600
Using the above information, complete the worksheet . In sheet 2 (named Financial statements) prepare (a) Income statement, (b) Statement of Equity, and ( c) Balance sheet of Mandy company Equipment 72,000
Accum. Depreciation? Equipment
13,500
Accounts Payable 7,200
Notes Payable 12,000
Owner?s Capital 45,900
Owner?s Drawings 14,200
Service Revenue 20,700
Unearned Service Revenue 7,000
Utilities Expense 1200       
Totals 106,300 106,300
Supplies Expense
Insurance Expense
Depreciation Expense
Rent Expense
Rent Payable
Totals
Net Income

Totals

 







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