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