Prepare an income statement for the year 2013prepare a

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Reference no: EM13572113

KARISE REPAIRS Adjusted Trial Balance December 31, 2013
No.	Account Title	Debit			Credit
101	Cash		$	16,000
124	Office supplies			1,400
128	Prepaid insurance			2,800
167	Equipment			53,000
168	Accumulated depreciation-Equipment					$	5,300
201	Accounts payable						14,500
210	Wages payable						800
301	C. Karise, Capital						34,000
302	C. Karise, Withdrawals			16,500
401	Repair fees earned						101,000
612	Depreciation expense-Equipment			5,300
623	Wages expense			39,000
637	Insurance expense			1,000
640	Rent expense			14,500
650	Office supplies expense			3,200
690	Utilities expense			2,900

	Totals		$	155,600		$	155,600

Assume there are no owner investments for 2013. 1.1 Prepare an income statement for the year 2013. 1.2 Prepare a statement of owners equity for the year 2013 1.3 Prepare a classified balance sheet at December 31, 2013. 2.1 Provide closing entry information, and the post closing trial balance. 3.1 Prepare the appropriate closing journal entries.

Reference no: EM13572113

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