Preparing Financial Statements

Posted on Posted in Accounting, General Accountants, Public Accountants

Using the figures provided below, prepare a Balance Sheet for T. Mott for October 31, 1997.

General Expense 180
Cash 2,555
Equipment Expense 765
Accounts Receivable 3,700
T. Mott, Capital 18,735
T. Mott, Drawings 9,500
Fees Earned 29,990
Office Supplies 284
Prepaid Insurance 1,000
Tapes 3,000
Car 12,300
Equipment 30,000
Repairs Expense 1,876
Telephone Expense 220
Advertising Expense 2,880
Revenue from Repairs 10,235
Accounts Payable 1,600
Bank Loan 7,700
$68,260 $68,260