The adjusted account balances of the far away firtness center at dec 31, 2006 are as follows:
ACCOUNT ADJUSTED TRAIL BAL.
Cash Db 10,000
Accounts Receivable, Db 26,000
Supplies Db 5,000
Prepaid Insurance Db 7,000
Land Db 20,000
Building Db 210,000
Accm. Depr., Building Cr 95,000
Equipment Db 60,000
Accm. Depr., Equip. Cr 25,000
Patents Db 12,000
Accounts Payable Cr 5,000
Wages Payable Cr 4,000
Notes payable Cr 15,000
far-away, capital Cr 190,000
far-away, drawing Db 13,000
service revenue Cr 102,000
intrest revenue Cr 13,000
utilities expense Db 10,000
salaries expense Db 32,000
supplies expense Db 12,000
insurance expense Db 3,000
depreciation expense, building Db 20,000
depreciation exp., equipment Db 9,000
totals Db 449,000 Cr449,000
Use the information provided above to prepare the statement of owner's equity and a classified balance sheet for the far away's fitness center using this form:
Far Away Fitness Center
Statement of Owner's Equity
For the year ended Dec 31, 2006
Far away's capotal, jan 1 2006 $190,000
Additions:
Subtotal
Subtractions:
Far away's capital, Dec 31 2006
Far Away Fitness Center
Balance Sheet
Dec 31, 2006
Assets
Current Assests:
Cash
Plant, property & Equipment:
Total Assets
Liabilities & Equity
Current Liabilities:
Long term Liabilities;
Total Liabilities
Equity
TOtal Liabilities and Owner's Equity:
So far i have that assets are Cash, accounts receivable and supplies..with DB 10,000 Cash, DB 2,000 accounts receivable; Supplies Db 5,000
plant and property & equipment: land db 20,000;buildings db 210,000; accumulated depreciation, building cr 95,000; equipment db 60,000; accm dep., equipment cr 25,000
This is as far as i have gotten can someone help me?? thank you VERY VERY much!!
2007-09-17
08:39:58
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3 answers
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asked by
caw0918
2