1 The partial worksheet for the Lorado Insurance Agency for the month ended October 31, 20X1, is shown below. The owner made no additional investments during the month. Account Name Cash Accounts receivable Supplies Equipment 52 Accounts payable Accumulated depreciation-Equipment Ashleigh Lorado, Capital Ashleigh Lorado, Drawing Fees income Salaries expense Rent expense Supplies expense Depreciation expense-Equipment Totals Net income Income Statement Debit Balance Sheet Credit Debit Credit 9,100 11,200 5,600 30,200 8,100 9,050 32,500 2,100 23,800 12,400 1,100 650 1,100 15,250 23,800 58,200 49,650 8,550 23,800 23,800 58,200 8,550 58,200 Prepare an income statement, a statement of owner's equity, and a balance sheet for the Lorado Insurance Agency for the month ended October 31, 20X1.

1 The partial worksheet for the Lorado Insurance Agency for the month ended October 31, 20X1, is shown below. The owner made no additional investments during the month. Account Name Cash Accounts receivable Supplies Equipment 52 Accounts payable Accumulated depreciation-Equipment Ashleigh Lorado, Capital Ashleigh Lorado, Drawing Fees income Salaries expense Rent expense Supplies expense Depreciation expense-Equipment Totals Net income Income Statement Debit Balance Sheet Credit Debit Credit 9,100 11,200 5,600 30,200 8,100 9,050 32,500 2,100 23,800 12,400 1,100 650 1,100 15,250 23,800 58,200 49,650 8,550 23,800 23,800 58,200 8,550 58,200 Prepare an income statement, a statement of owner's equity, and a balance sheet for the Lorado Insurance Agency for the month ended October 31, 20X1.

Name: 1The partial worksheet for the Lorado Insurance Agency for the month
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Description: 1The partial worksheet for the Lorado Insurance Agency for the month ended October 31, 20X1, is shown below. The owner made noadditional investments during the month.Account NameCashAccounts receivableSuppliesEquipment52Accumulated depreciation-Equi

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter3: Basic Accounting Systems: Accrual Basis

Section: Chapter Questions

Problem 5SEQ: The balance in the unearned rent account for Jones Co. as of December 31 is $1 ,20(). If Jones Co....

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