From the partial work sheet, prepare an income statement, a statement of owner's equity, and a classified balance sheet. The owner made no additional investments in the business during the month. Carlos Perez Delivery Service Work Sheet (Partial) For Month Ended January 31, 20-- Income Statement Balance Sheet Account Title Debit Credit Debit Credit Cash 11,000 Accounts Receivable 1,500 Supplies 1,200 Prepaid Insurance 800 Delivery Equipment 5,000 Accum. Depr.—Delivery Equip. 400 Accounts Payable 900 Wages Payable 1,400 Carlos Perez, Capital 15,600 Carlos Perez, Drawing 1,500 Delivery Fees 6,400 Wages Expense 880 Rent Expense 1,100 Supplies Expense 220 Telephone Expense 175 Electricity Expense 320 Insurance Expense 550 Depr. Exp.—Delivery Equip. 400 Miscellaneous Expense 55 3,700 6,400 21,000 18,300 Net Income 2,700 2,700 6,400 6,400 21,000 21,000 1. Prepare an income statement. Carlos Perez Delivery Service Income Statement For Month Ended January 31, 20-- $fill in the blank 3fed460aafcc053_3 $fill in the blank 3fed460aafcc053_6 fill in the blank 3fed460aafcc053_8 fill in the blank 3fed460aafcc053_10 fill in the blank 3fed460aafcc053_12 fill in the blank 3fed460aafcc053_14 fill in the blank 3fed460aafcc053_16 fill in the blank 3fed460aafcc053_18 fill in the blank 3fed460aafcc053_20 fill in the blank 3fed460aafcc053_22 $fill in the blank 3fed460aafcc053_24 2. Prepare a statement of owner's equity. Carlos Perez Delivery Service Statement of Owner's Equity For Month Ended January 31, 20-- $fill in the blank c27f26fe6fbc062_2 $fill in the blank c27f26fe6fbc062_4 fill in the blank c27f26fe6fbc062_6 fill in the blank c27f26fe6fbc062_8 $fill in the blank c27f26fe6fbc062_10 3. Prepare a balance sheet. Carlos Perez Delivery Service Balance Sheet January 31, 20-- Assets Current assets: $fill in the blank 15a11afcc06704b_2 fill in the blank 15a11afcc06704b_4 fill in the blank 15a11afcc06704b_6 fill in the blank 15a11afcc06704b_8 Total current assets $fill in the blank 15a11afcc06704b_9 Property, plant, and equipment: $fill in the blank 15a11afcc06704b_11 fill in the blank 15a11afcc06704b_13 fill in the blank 15a11afcc06704b_14 Total assets $fill in the blank 15a11afcc06704b_15 Liabilities Current liabilities: $fill in the blank 15a11afcc06704b_17 fill in the blank 15a11afcc06704b_19 Total current liabilities $fill in the blank 15a11afcc06704b_20 Owner's Equity fill in the blank 15a11afcc06704b_22 Total liabilities and owner's equity $fill in the blank 15a11afcc06704b_23
From the partial work sheet, prepare an income statement, a statement of owner's equity, and a classified balance sheet. The owner made no additional investments in the business during the month. Carlos Perez Delivery Service Work Sheet (Partial) For Month Ended January 31, 20-- Income Statement Balance Sheet Account Title Debit Credit Debit Credit Cash 11,000 Accounts Receivable 1,500 Supplies 1,200 Prepaid Insurance 800 Delivery Equipment 5,000 Accum. Depr.—Delivery Equip. 400 Accounts Payable 900 Wages Payable 1,400 Carlos Perez, Capital 15,600 Carlos Perez, Drawing 1,500 Delivery Fees 6,400 Wages Expense 880 Rent Expense 1,100 Supplies Expense 220 Telephone Expense 175 Electricity Expense 320 Insurance Expense 550 Depr. Exp.—Delivery Equip. 400 Miscellaneous Expense 55 3,700 6,400 21,000 18,300 Net Income 2,700 2,700 6,400 6,400 21,000 21,000 1. Prepare an income statement. Carlos Perez Delivery Service Income Statement For Month Ended January 31, 20-- $fill in the blank 3fed460aafcc053_3 $fill in the blank 3fed460aafcc053_6 fill in the blank 3fed460aafcc053_8 fill in the blank 3fed460aafcc053_10 fill in the blank 3fed460aafcc053_12 fill in the blank 3fed460aafcc053_14 fill in the blank 3fed460aafcc053_16 fill in the blank 3fed460aafcc053_18 fill in the blank 3fed460aafcc053_20 fill in the blank 3fed460aafcc053_22 $fill in the blank 3fed460aafcc053_24 2. Prepare a statement of owner's equity. Carlos Perez Delivery Service Statement of Owner's Equity For Month Ended January 31, 20-- $fill in the blank c27f26fe6fbc062_2 $fill in the blank c27f26fe6fbc062_4 fill in the blank c27f26fe6fbc062_6 fill in the blank c27f26fe6fbc062_8 $fill in the blank c27f26fe6fbc062_10 3. Prepare a balance sheet. Carlos Perez Delivery Service Balance Sheet January 31, 20-- Assets Current assets: $fill in the blank 15a11afcc06704b_2 fill in the blank 15a11afcc06704b_4 fill in the blank 15a11afcc06704b_6 fill in the blank 15a11afcc06704b_8 Total current assets $fill in the blank 15a11afcc06704b_9 Property, plant, and equipment: $fill in the blank 15a11afcc06704b_11 fill in the blank 15a11afcc06704b_13 fill in the blank 15a11afcc06704b_14 Total assets $fill in the blank 15a11afcc06704b_15 Liabilities Current liabilities: $fill in the blank 15a11afcc06704b_17 fill in the blank 15a11afcc06704b_19 Total current liabilities $fill in the blank 15a11afcc06704b_20 Owner's Equity fill in the blank 15a11afcc06704b_22 Total liabilities and owner's equity $fill in the blank 15a11afcc06704b_23
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Topic Video
Question
-
From the partial work sheet, prepare an income statement, a statement of owner's equity, and a classified
balance sheet . The owner made no additional investments in the business during the month.Carlos Perez Delivery Service
Work Sheet (Partial)
For Month Ended January 31, 20--Income Statement Balance Sheet Account Title Debit Credit Debit Credit Cash 11,000 Accounts Receivable 1,500 Supplies 1,200 Prepaid Insurance 800 Delivery Equipment 5,000 Accum. Depr.—Delivery Equip. 400 Accounts Payable 900 Wages Payable 1,400 Carlos Perez, Capital 15,600 Carlos Perez, Drawing 1,500 Delivery Fees 6,400 Wages Expense 880 Rent Expense 1,100 Supplies Expense 220 Telephone Expense 175 Electricity Expense 320 Insurance Expense 550 Depr. Exp.—Delivery Equip. 400 Miscellaneous Expense 55 3,700 6,400 21,000 18,300 Net Income 2,700 2,700 6,400 6,400 21,000 21,000 1. Prepare an income statement.
Carlos Perez Delivery Service Income Statement For Month Ended January 31, 20-- $fill in the blank 3fed460aafcc053_3 $fill in the blank 3fed460aafcc053_6 fill in the blank 3fed460aafcc053_8 fill in the blank 3fed460aafcc053_10 fill in the blank 3fed460aafcc053_12 fill in the blank 3fed460aafcc053_14 fill in the blank 3fed460aafcc053_16 fill in the blank 3fed460aafcc053_18 fill in the blank 3fed460aafcc053_20 fill in the blank 3fed460aafcc053_22 $fill in the blank 3fed460aafcc053_24 2. Prepare a statement of owner's equity.
Carlos Perez Delivery Service Statement of Owner's Equity For Month Ended January 31, 20-- $fill in the blank c27f26fe6fbc062_2 $fill in the blank c27f26fe6fbc062_4 fill in the blank c27f26fe6fbc062_6 fill in the blank c27f26fe6fbc062_8 $fill in the blank c27f26fe6fbc062_10 3. Prepare a balance sheet.
Carlos Perez Delivery Service Balance Sheet January 31, 20-- Assets Current assets: $fill in the blank 15a11afcc06704b_2 fill in the blank 15a11afcc06704b_4 fill in the blank 15a11afcc06704b_6 fill in the blank 15a11afcc06704b_8 Total current assets $fill in the blank 15a11afcc06704b_9 Property, plant, and equipment: $fill in the blank 15a11afcc06704b_11 fill in the blank 15a11afcc06704b_13 fill in the blank 15a11afcc06704b_14 Total assets $fill in the blank 15a11afcc06704b_15 Liabilities Current liabilities: $fill in the blank 15a11afcc06704b_17 fill in the blank 15a11afcc06704b_19 Total current liabilities $fill in the blank 15a11afcc06704b_20 Owner's Equity fill in the blank 15a11afcc06704b_22 Total liabilities and owner's equity $fill in the blank 15a11afcc06704b_23
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 3 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education