Prepare a trial balance sheet for Mia Stage, Interior Design, as of September 30, 2017. (15...

Prepare a trial balance sheet for Mia Stage, Interior Design, as of September 30, 2017. (15 Points) Mia Stage, Interior Design Adjusted Trial Balance Month Ending September 30, 2017 Debits Credits Cash 14,275 Accounts Receivable 3,650 Supplies 1,250 Prepaid Ins. 2,400 Automobile 12,500 Equipment 6,250 Accounts Payable 6,850 Notes Payable 9,800 MS, Capital 19,000 MS, Drawing 2,000 Fees Earned 15,650 Rent Expense 3,150 Salary Expense 2,300 Programming Expense 2,300 Equipment Expense 550 Misc. Expense 675 Total $51,300 51,300 Prepare Financial Statements for Mia Stage, Interior Design, as of September 30, 2017. Income Statement: (10 points) Mia Stage, Interior Design Income Statement For Month Ending September 30, 2017 Revenues: Fees Earned 15,650 Total Revenues 15,650 Expenses: Rent Expense 3,150 Salary Expense 2,300 Programming Expense 2,300 Equipment Expense 550 Misc. Expense 675 Total Expenses Net Income $6,675 Statement of Owner's Equity (5 points) Mia Stage, Interior Design Statement of Owner’s Equity For Month Ending September 30, 2017 Mia Stage, Capital 19,000 Net Income 6,675 Withdraws (2,000) Increase in OE 4,675 Mia Stage, Capital Sept. 30, 2017 $23,675 Balance Sheet (10 points) Mia Stage, Interior Design Balance Sheet September 30, 2017 Assets Current Assets Cash 14,275 Accounts Receivable 3,650 Supplies 1,250 Prepaid Insurance 2,400 Total Current Assets $21,575 Property, Plant and Equipment Automobile 12,500 Equipment 6,250 Total P,P &E 18,750 Total Assets $40,325 Liabilities Current Liabilities Accounts Payable 6,850 Notes Payable 9,800 Total Liabilities 16,650 Owner’s Equity Mia Stage, Capital 23,670 Total Liabilities & OE $40,325 Close temporary accounts and prepare journal entries for those transaction. (10 points) Journal Date Description Debit Credit September 30 Fees Earned 15,650 Rent Expense 3,150 Salary Expense 2,300 Programming Expense 2,300 Equipment Expense 550 Misc. Expense 675 Mia Stage, Capital $6,675 Journal Date Description Debit Credit September 30 Mia Stage, Capital 2,000 Mia Stage, Drawing 2,000

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ekkarill92 answered 1 year ago

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