Question
At the end of its fiscal year, the adjusted trial balance of Carla Vista Company is as follows:
/> CARLA VISTA COMPANY Adjusted Trial Balance July 31, 2017 Debit Credit Cash $4,560 Accounts receivable 11,420 Prepaid rent 500 Supplies750 Debt investments8,000 Equipment19,950 Accumulated depreciation—equipment $5,700 Patents 18,300 Accounts payable 4,275 Interest payable 750 Unearned revenue 2,050 Notes payable (due on July 1, 2019) 45,900 B. Carla Vista, capital 28,285 B. Carla Vista, drawings 16,800 Service revenue74,900 Interest revenue320 Depreciation expense2,850 Interest expense3,000 Rent expense18,550 Salaries expense36,650 Supplies expense20,850 $162,180 $162,180 Make an income statement for the year. Mr. Carla Vista invested $5,000 cash in the business during the year. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) CARLA VISTA COMPANY Income Statement $ $ $ Make a statement of owner's equity for the year. Mr. Carla Vista invested $5,000 cash in the business during the year. (List items that increase owner's equity first.) CARLA VISTA COMPANY Statement of Owner's Equity $ : : $ $ Make a classified balance sheet at July 31, 2017. (List Current Assets in order of liquidity.) CARLA VISTA COMPANY Balance Sheet Assets $ $ : $ Liabilities and Owner's Equity $
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