The following information relates to Jake Peavy Co. for the year 2012.
|
Owner’s capital, January 1, 2012 |
$48,000 |
|
Advertising expense |
|
|
Owner’s drawings during 2012 |
6,000 |
|
Rent expense |
10,400 |
|
Service revenue |
63,600 |
|
Utilities expense |
3,100 |
|
Salaries and wages expense |
29,500 |
Instructions
After analyzing the data, prepare an income statement and an owner’s equity statement for the year ending December 31, 2012.