Adjusted Trial Balance
Accounts receivable 400
Prepaid Insurance 830
Office supplies 80
Accumulated depreciation-office equipment 1,000
Accumulated depreciation-buildings 28,000
Wages payable 880
Property taxes payable 1,400
Interest payable 2,200
Unearned rent 460
Long-term notes payable 150,000
Mary Hanson, Capital 40,340
Mary Hanson, Withdrawals 21,000
Rent earned 57,500
Wages expense 25,000
Utilites expense 1,900
Property taxes expense 2,400
Insurance expense 800
Office supplies expense 250
Depreciation expense-office equipment 400
Depreciation expense-buildings 5,570
Interest expense 3,000
a. Prepare an income statement for the adjusted trial balance of Hanson Storage.
b. Prepare a statement of owner's equity from the adjusted trial balance of Hanson Storage. Ms. Hanson's capital account balance of $40,340 consists of a $30,340 beginning-year balance plus a $10,000 investment during the current year.
c. Prepare a balance sheet from the adjusted trial balance of Hanson Storage
This question was asked on Apr 21, 2010 and answered on Apr 22, 2010.
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