PERDIZO, MILJANE P.

BSA III

Quiz 1
Listed below are accounts from the adjusted trial balance in the worksheet of Irene Agency
Accounts Receivable 57,840
Office Supplies 2,500
Accounts Payable 25,500
Unearned Fees 5,000
Accumulated Depreciation 42,000
Depreciation Expense 18,300
Cash 21,120
Insurance Expense 7,800
Equipment 183,000
Miscellaneous Expense 4,500
Irene, Capital 195,640
Rent Expense 60,000
Irene Drawing 48,000
Fees Earned 287,220
Prepaid Insurance 8,000
Supplies Expense 6,200
Prepaid Rent 15,000
Salary Expense 113,600
Salary Payable 7,500
Utilities Expense 17,000

Requirements
A. Income Statement ending December 31 of the current year

B. Statement of Changes in equity assuming the Jan 1 Capital balance was 155,640

C. Statement of Financial Position (Balance Sheet) at December 31 of the current year

D. Statement of Cash Flows ending December 31 of the current year