Question

Kaya Company prepared the following random list of assets, liabilities, revenues, and expenses from its December 31, 2019 accounting records. The beginning balance of Capital as of January 1, 2019, was $43,100 and the owner, Kaya Strong withdrew 14,600 during the year. Prepare the balance sheet for Kaya Company as of December 31, 2019.

Accounts receivable      $15,700         Service revenue       $50,500

Interest expense                4,900         Cash                          97,500

Supplies                            1,500         Note payable             17,000

Accounts payable         106,100         Salary expense          18,000

Utilities expense               5,200         Interest payable          1,600

Furniture                         18,000         Rent expense               9,400

Salary payable                  2,400         Automobiles             12,900

                                                            Land                           23,000

Kaya Company prepared the following random list of assets, liabilities, revenues, and expenses from its December 31, 2019 accounting records. The beginning balance of Capital as of January 1, 2019, was $43,100 and the owner, Kaya Strong withdrew 14,600 during the year. Prepare the balance sheet for Kaya Company as of December 31, 2019.

Accounts receivable      $15,700         Service revenue       $50,500

Interest expense                4,900         Cash                          97,500

Supplies                            1,500         Note payable             17,000

Accounts payable         106,100         Salary expense          18,000

Utilities expense               5,200         Interest payable          1,600

Furniture                         18,000         Rent expense               9,400

Salary payable                  2,400         Automobiles             12,900

                                                            Land                           23,000

Answer 1

Balance Sheet
Assets
Current Assets
Cash			$   97,500.00
Accounts Receiavble			$   15,700.00
Supplies			$     1,500.00
Total Current Assets				$ 114,700.00
Non- Current Assets
Furniture			$   18,000.00
Land			$   23,000.00
Automobiles			$   12,900.00
Total Non- Current Assets				$   53,900.00
Total Assets				$ 168,600.00
Liabilities and Owner's Fund
Current Liabilities
Accounts Payable			$ 106,100.00
Salary Payable			$     2,400.00
Interest Payable			$     1,600.00
Total Current Liabilities				$ 110,100.00
Non- Current Liabilities
Notes Payable				$   17,000.00
Total Liabilities				$ 127,100.00
Owner's Fund		(Workings)		$   41,500.00
Total Liabilities and Owner's Fund				$ 168,600.00

Workings:

	Statement of Owner's Fund
	Beginning balance of Owner's Fund				$ 43,100.00
Add:	Net Income				$ 13,000.00
Less:	Withdrawal				$ 14,600.00
	Ending balance of Owner's Fund				$ 41,500.00