Isurance expense 8000 cashe 7000 accounts payable 7000

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Reference no: EM13587411

Insurance expense $8,000 cashe $7,000 Accounts payable $7,000 Advertising expense $3,000 Service revenue 80,000 Ansel drawing 13,000 Accounts receivable 8,000 Note payaboe 12,000 Ansel, capital, Dec 31, 2012 ? Salary expense 25,000 Equipment 0,000 Owner investment, 2012 29,000

1. Prepare the following financial statements for studion photography for the year ended december 31, 2012:

a. Income Statement

b. Statement of owners equity

c. Balance sheet.

Reference no: EM13587411

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