Income statement? Owner’s equity? Balance sheet? The Carver Company Adjusted Tri
ID: 2338951 • Letter: I
Question
Income statement? Owner’s equity? Balance sheet?The Carver Company Adjusted Trial Balance At December 31, 2017 Debit Credit Cash Interest Receivable Supplies Prepaid Insurance Investments Equipment Accumulated depreciation Accounts Payable Notes Payable Wages Payable Interest Payable Owner's Equity Owner, Withdrawal Service Revenue Interest Revenue Wage Expense Supplies Expense . Rent Expense Insurance Expense Interest Expense Depreciation Expense- 15,000 $ 950 $ 617 $ 2,600 $ 23,750 $ 59,600 $ 23,840 $ 415 $73,000 8,000 $ 5,000 $ 30,000 20,000 $ 138,000 $950 $96,000 -$5,368 $ 36,000 $ 2,400 $ 5,000 -11,920 279,205 $ 279,205
Explanation / Answer
1)
CARVER COMPANY
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31,2017
CARVER COMPANY
statement of owners equity
FOR THE YEAR ENDED DECEMBER 31,2017
CARVER COMPANY
BALANCE SHEET
AS ON DECEMBER 31,2017
CARVER COMPANY
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31,2017
Service revenue 138000 Interest revenue 950 Total revenue 138950 expense wage expense 96000 supplies expense 5368 Rent expense 36000 Insurance expense 2400 Interest expense 5000 Depreciation expense 11920 Total expense (156688) Net Income (17738)