Business, 25.04.2020 03:06 claudialopez093

The accounting equation elements and their balances of Awesome Travel Services at December 31 are listed below. There were no additional investments or withdrawals by J. Trendsetter during the year.

Accounts payable $12,000 J. Trendsetter, capital (January 1) $10,000
Accounts receivable 14,000 Supplies 1,000
Cash 18,000 Income taxes expense 1,300
Computer equipment 21,000 Utilities expense 8,000
Fees earned 78,000 Wages expense 25,000
Rent expense 10,000 Supplies expense 1,700

Required:
Prepare an income statement, statement of owner's equity, and a balance sheet as of December 31.

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