The adjusted trial balance of Kramer's Legal Practice appears below: KRAMER'S LEGAL PRACTICE Adjusted Trial Balance December 31, 2021 Debit Credit Cash $6,400 Accounts receivable 1,200 Office supplies 1,800 Office equipment 8,000 Accumulated depreciation-office equipment $2,500 Computer equipment 6,000 Accumulated depreciation-computer equipment 1,500 Accounts payable 6,000 Unearned revenue 3,000 H. Kramer, capital 12,400

SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter5: Business Deductions
Section: Chapter Questions
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The adjusted trial balance of Kramer's Legal Practice appears below:
KRAMER'S LEGAL PRACTICE
Adjusted Trial Balance
December 31, 2021
Debit Credit
Cash $6,400
Accounts receivable 1,200
Office supplies 1,800
Office equipment 8,000
Accumulated depreciation-office equipment $2,500
Computer equipment 6,000
Accumulated depreciation-computer equipment 1,500
Accounts payable 6,000
Unearned revenue 3,000
H. Kramer, capital 12,400
H. Kramer, drawings 2,500
Service earned 5,500
Office supplies expense 600
Depreciation expense 2,500
Rent expense 1,900
$30,900 $30,900
Instructions
Using this information, prepare for the month ended December 31:
a) an income statement;
b) a statement of owner's equity; and
a balance sheet.
Transcribed Image Text:The adjusted trial balance of Kramer's Legal Practice appears below: KRAMER'S LEGAL PRACTICE Adjusted Trial Balance December 31, 2021 Debit Credit Cash $6,400 Accounts receivable 1,200 Office supplies 1,800 Office equipment 8,000 Accumulated depreciation-office equipment $2,500 Computer equipment 6,000 Accumulated depreciation-computer equipment 1,500 Accounts payable 6,000 Unearned revenue 3,000 H. Kramer, capital 12,400 H. Kramer, drawings 2,500 Service earned 5,500 Office supplies expense 600 Depreciation expense 2,500 Rent expense 1,900 $30,900 $30,900 Instructions Using this information, prepare for the month ended December 31: a) an income statement; b) a statement of owner's equity; and a balance sheet.
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