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Business, 19.05.2020 20:08 Bloom247

The completed worksheet for Cantu Corporation as of December 31, 2019, after the company had completed the first month of operation, appears below. CANTU CORPORATION Worksheet Month Ended December 31, 2019 Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Name Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 77,300 77,300 77,300 Accounts Receivable 12,100 12,100 12,100 Supplies 10,300 6,100 4,200 4,200 Prepaid Advertising 15,000 2,500 12,500 12,500 Equipment 62,500 62,500 62,500 Accumulated Depreciation—Equipment 1,250 1,250 1,250 Accounts Payable 12,100 12,100 12,100 Selena Cantu, Capital 108,100 108,100 108,100 Selena Cantu, Drawing 7,300 7,300 7,300 Fees Income 83,100 83,100 83,100 Supplies Expense 6,100 6,100 6,100 Advertising Expense 2,500 2,500 2,500 Depreciation Expense-Equipment 1,250 1,250 1,250 Salaries Expense 16,900 16,900 16,900 Utilities Expense 1,900 1,900 1,900 Totals 203,300 203,300 9,850 9,850 204,550 204,550 28,650 83,100 175,900 121,450 Net Income 54,450 54,450 83,100 83,100 175,900 175,900 Required: Prepare an income statement. Prepare a statement of owner’s equity. The owner made no additional investments during the month. Prepare a balance sheet.

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The completed worksheet for Cantu Corporation as of December 31, 2019, after the company had complet...

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