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The following is the adjusted trial balance for Nadia Company. Nadia Company Adjusted Trial Balance December...

The following is the adjusted trial balance for Nadia Company.

Nadia Company
Adjusted Trial Balance
December 31
Account No. Debit Balances Credit Balances
Cash 11 5,130
Accounts Receivable 12 3,300
Prepaid Expenses 13 420
Equipment 18 12,400
Accumulated Depreciation 19 2,200
Accounts Payable 21 700
Notes Payable (due on June 30) 22 3,070
Nadia Porter, Capital 31 13,000
Nadia Porter, Drawing 32 700
Fees Earned 41 10,930
Wages Expense 51 2,450
Rent Expense 52 1,900
Utilities Expense 53 1,475
Depreciation Expense 54 1,150
Miscellaneous Expense 59 975
Totals 29,900 29,900

Assume that the capital account started with a beginning balance of $10,000 and that the owner made an additional investment of $3,000 during the period.

Prepare an Income Statement.

Nadia Company
Income Statement
For the Year Ended December 31
$
Expenses:
$
Total expenses
$

Prepare a Statement of Owner's Equity.

Nadia Company
Statement of Owner's Equity
For the Year Ended December 31
$
$
$

Prepare a Balance Sheet.

Nadia Company
Balance Sheet
December 31
Assets
Current assets
$
Total current assets $
Property, plant, and equipment
$
Total property, plant, and equipment $
Total assets $
Liabilities
Current liabilities
$
Total liabilities $
Owner's Equity
$
Total liabilities and owner's equity $

Solutions

Expert Solution

ekkarill92 answered 2 years ago
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