homework help 458810

Prepare the income statement and owner’s equity statement for March and a classified balance sheet at March 31. (List amounts from largest to smallest eg 10, 5, 3, 2. List assets in order of liquidity and liabilities from largest to smallest eg 10, 5, 3, 2. If answer is zero, please enter 0. Do not leave any fields blank.)

EDDY’S CARPET CLEANERS

Income Statement

Revenues

$

Expenses

$

Total expenses

Net income

$

EDDY’S CARPET CLEANERS

Owner’s Equity Statement

$

Add:

Less:

$

EDDY’S CARPET CLEANERS

Balance Sheet

Assets

Current Assets

$

Total current assets

Property, plant and equipment

$

:

Total assets

$

Liabilities and Owner’s Equity

Current liabilities

$

Total current liabilities

Owner’s Equity

Total liabilities and owner’s equity

$

Journalize adjusting entries. Use page J2 for the journal.

General Journal

J2

Date Account/Description Debit Credit

Mar. 31

(To adjust accounts receivable.)

Mar. 31

(To adjust depreciation.)

Mar. 31

(To adjust insurance.)

Mar. 31