Financial Accounting Balance sheet statement

Accounting
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As i provided entries in your previous question, here accounts of balance sheet are given and took net income $52,000 for the presentation of balance sheet:

Cash = $5,800

Accounts Receivable = $12,300 + $1,000 = $13,300

Prepaid rent = $2,800  ( There is no data is given for the adjustment entry)

Supplies =$2,600 - $2,100= $500

Equipment = $52,000

Accumulated Depreciation = $7,000

Accounts Payable = $18,500 + $2,400 = $20,900

Salary Payable = $1,200

Unearned Service Revenue = $4,100 - $800 = $3,300

Ralph Collin's Capital = $40,000

Ralph Collin's Drawings = $50,000


                                                                       Ralph Collin

                                                                    Balance Sheet

                                                                 December 31,-----

                           Assets                                                                    Liabilities and Owner's Equity

                                                                                                                  Liabilities

  Current assets:                                                                               Current liabilities:

  Cash                                                               $5,800             Accounts Payable                         $20,900

  Accounts Receivable                                     13,300             Salary Payable                                  1,200

 Supplies                                                               500             Unearned Service revenue                3,300

 Prepaid Rent                                                     2,800

 Total current assets                                      $22,400            Total current liabilities                     $25,400 

  Equipment                                      $52,000                                            Owner's Equity

  Less Accumulated Depreciation       7,000                           Ralph Collin's Capital        $40,000

  Net fixed asset                                              45,000             Add income                          52,000

                                                                                                                                            $92,000

                                                                                                Less drawings                      50,000  

                                                                                                Net capital                                          42,000

  Total Assets                                                $67,400             Liabilities and Owner's Equity          $67,400                                       





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