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Complete an Income Statement and Statement of Owners Equity

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Question - Based on the data below, complete an Income Statement, Statement of Owners Equity, and Balance Sheet for Doe Enterprises, a Consulting Firm

Cash = $225,000

Accounts Receivable = $175,000

Supplies = $75,000

Prepaid Insurance = $25,000

Equipment = $200,000

Doe, Drawing = $20,000

Rent Expense = $120,000

Wage Expense = $100,000

Utilities Expense = $30,000

Depreciation Expense - Equipment = $20,000

Advertising Expense = $10,000

Accounts Payable = $100,000

Consulting Fees = $480,000

Accumulated Depreciation - Equipment = $20,000

Doe, Capital = $400,000.

Reference no: EM132924523

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