e. Prepare a pul (LO 1.2.4) Financial Statement The completed financial statement columns of the...
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e. Prepare a pul (LO 1.2.4) Financial Statement The completed financial statement columns of the work- sheet for Bray Company are shown as follows. Prepare financial entries, and post- balance. Dr. Account No. 101 112 130 Balance Sheet Dr. Cr. 8,800 10,800 2,800 24,000 4,200 9,000 2,400 19,500 11,000 157 158 Bray Company Worksheet For the Year Ended December 31, 2020 Income Statement Account Titles Cr. Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation-Equip. Accounts Payable Salaries and Wages Payable Owner's Capital Owner's Drawings Service Revenue 60,000 Maintenance and Repairs Expense 1,700 Depreciation Expense 2,800 Insurance Expense 1,800 Salaries and Wages Expense 30,000 Utilities Expense 1,400 Totals 37,700 60,000 Net Income 22,300 60,000 60,000 201 212 301 306 400 622 57,400 35,100 22,300 57,400 57,400 Instructions a. Prepare an income statement, an owner's equity statement, and a classified balance sheet. Ab. Prepare the closing entries. L. Bray did not make any additional investments during the year. Ending capita Total current
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