Share
Explore BrainMass

Prepare the monthly income statement, statement of owner's equity, and balance sheet for Sparkle Bright Services

I'm trying to prepare the monthly income statement, statement of owner's equity, and balance sheet for Sparkle Bright Services from this data provided in this trial balance.

Cash $4,590
Acc. Receivable 2,592
Prepaid insurance 380
Prepaid rent 200
Cleaning supplies 152
Cleaning equipment 3,200
Accumulated depreciation, cleaning equpment $320
Truck 7,200
Accumulated depreciation, truck 720
Accounts payable 420
Wages payable 80
Unearned Janitorial Revenue 920
Jim Harrington, Capital 15,034
Jim Harrington, Withdrawals 2,000
Janitorial Revenue 14,620
Wages expense 5,680
Rent expense 1,200
Gas, oil, and other truck expenses 580
Insurance expense 380
Supplies expense 2,920
Depreciation expense, cleaning equipment 320
Depreciation expense, truck 720
$32,114 $32,114

Solution Preview

Dear student,
The solution to your above posted problem is ...

Solution Summary

The solution to your above posted problem is provided in a separate excel file attached herewith in the following 4 parts.
1 Trial balance
2 Income statement
3 Statement of Owner's equity & Retained earnings
balance sheet in classified form.

$2.19