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Elden Company Work Sheet For Year Ended June 30, 20-- TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE...

Elden Company
Work Sheet
For Year Ended June 30, 20--
TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET
ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT
1 Cash 5,184.00 0 0 0 5,184.00 0 0 0 5,184.00 0 1
2 Accounts Receivable 641.00 0 0 0 641.00 0 0 0 641.00 0 2
3 Supplies 383.00 0 0 135.00 248.00 0 0 0 248.00 0 3
4 Prepaid Insurance 1,124.00 0 0 405.00 719.00 0 0 0 719.00 0 4
5 Equipment 6,126.00 0 0 0 6,126.00 0 0 0 6,126.00 0 5
6 Accum. Depr., Equipment 0 1,644.00 0 600.00 0 2,244.00 0 0 0 2,244.00 6
7 Van 9,950.00 0 0 0 9,950.00 0 0 0 9,950.00 0 7
8 Accumulated Depreciation, Van 0 3,176.00 0 1,150.00 0 4,326.00 0 0 0 4,326.00 8
9 Accounts Payable 0 1,053.00 0 0 0 1,053.00 0 0 0 1,053.00 9
10 B. Elden, Capital 0 18,026.00 0 0 0 18,026.00 0 0 0 18,026.00 10
11 B. Elden, Drawing 15,320.00 0 0 0 15,320.00 0 0 0 15,320.00 0 11
12 Fees Earned 0 35,944.00 0 0 0 35,944.00 0 35,944.00 0 0 12
13 Salaries Expense 17,980.00 0 555.00 0 18,535.00 0 18,535.00 0 0 0 13
14 Advertising Expense 1,804.00 0 0 0 1,804.00 0 1,804.00 0 0 0 14
15 Van Operating Expense 480.00 0 0 0 480.00 0 480.00 0 0 0 15
16 Utilities Expense 725.00 0 0 0 725.00 0 725.00 0 0 0 16
17 Miscellaneous Expense 126.00 0 0 0 126.00 0 126.00 0 0 0 17
18 59,843.00 59,843.00 0 0 0 0 0 0 0 0 18
19 Insurance Expense 0 0 405.00 0 405.00 0 405.00 0 0 0 19
20 Depr. Exp., Equipment 0 0 600.00 0 600.00 0 600.00 0 0 0 20
21 Depreciation Expense, Van 0 0 1,150.00 0 1,150.00 0 1,150.00 0 0 0 21
22 Salaries Payable 0 0 0 555.00 0 555.00 0 0 0 555.00 22
23 Supplies Expense 0 0 135.00 0 135.00 0 135.00 0 0 0 23
24 0 0 2,845.00 2,845.00 62,148.00 62,148.00 23,960.00 35,944.00 38,188.00 26,204.00 24
25 Net Income 0 0 0 0 0 0 11,984.00 0 0 11,984.00 25
26 0 0 0 0 0 0 35,944.00 35,944.00 38,188.00 38,188.00 26

Required:

1. Prepare an income statement.

Elden Company
Income Statement
For Year Ended June 30, 20--
Revenue:
$   
Expenses:
$
Total Expenses
Net Income $

2. Prepare a statement of owner's equity. Assume that there was an additional investment of $2,050 on June 10.

Elden Company
Statement of Owner's Equity
For Year Ended June 30, 20--
$
$
Subtotal $
$
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