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Exercise 13.4 Objective 13-2 Preparing a statement of owner's equity. The worksheet of Lantz's Office Supplies contains the following owner's equity accounts. Use this data and the net income determined in Exercise 13.3 to prepare a statement of owner's equity for the year ended December 31, 20X1. No additional investments were made during the period. ACCOUNTS 301 302 Terri Lantz, Capital Terri Lantz, Drawing $68,760 C 40.700 Dr. Exercise 13.5 Objective 13-3 Preparing a classified balance sheet. The worksheet of Lantz's Office Supplies contains the following asset and liability accounts. The balance of the Notes Payable account consists of notes that are due within a year. Prepare a balance sheet dated December 31, 20X1. Obtain the ending capital for the period from the statement of owner's equity completed in Exercise 13.4. ACCOUNTS 101 107 111 112 121 131 133 141 142 Cash Change Fund Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Store Supplies Prepaid interest Store Equipment Accum. Depreciation-Store Equipment Office Equipment Accum. Depreciation --Office Equipment Notes Payable Accounts Payable Interest Payable Sales Tax Payable $12,655 Dr. 500 Dr. 15,140 Dr. 860 Cr. 52.725 Dr. 1.100 DE 130 Dr. 11,200 Dr 1,180 C 3,400 Dr. 500 CE 5.500 CF. 6,725 CE 110 CE 1,890 Cr. 151 152 201 203 216 231 Exercise 13.4 Objective 13-2 Preparing a statement of owner's equity. The worksheet of Lantz's Office Supplies contains the following owner's equity accounts. Use this data and the net income determined in Exercise 13.3 to prepare a statement of owner's equity for the year ended December 31, 20X1. No additional investments were made during the period. ACCOUNTS 301 302 Terri Lantz, Capital Terri Lantz, Drawing $68,760 C 40.700 Dr. Exercise 13.5 Objective 13-3 Preparing a classified balance sheet. The worksheet of Lantz's Office Supplies contains the following asset and liability accounts. The balance of the Notes Payable account consists of notes that are due within a year. Prepare a balance sheet dated December 31, 20X1. Obtain the ending capital for the period from the statement of owner's equity completed in Exercise 13.4. ACCOUNTS 101 107 111 112 121 131 133 141 142 Cash Change Fund Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Store Supplies Prepaid interest Store Equipment Accum. Depreciation-Store Equipment Office Equipment Accum. Depreciation --Office Equipment Notes Payable Accounts Payable Interest Payable Sales Tax Payable $12,655 Dr. 500 Dr. 15,140 Dr. 860 Cr. 52.725 Dr. 1.100 DE 130 Dr. 11,200 Dr 1,180 C 3,400 Dr. 500 CE 5.500 CF. 6,725 CE 110 CE 1,890 Cr. 151 152 201 203 216 231

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