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Acccounting

In: Business and Management

Submitted By rayhan347
Words 2345
Pages 10
Chapter 4- 27 A Elias Real Estate AppraisalIncome Statement | Revenues: | Service Revenue | 48,200 | Expenses: | Insurance Expense | 4,500 | Salaries Expense | 33,300 | Supplies Expense | 600 | Interest Expense | 8,800 | Utilities Expense | 2,200 | Depr. Expense- Building | 7,500 | Total Expenses | 56,900 | Net Income- 8,700 |

Elias Real Estate AppraisalStatement of owners’ equityYear Ended June 30, 2014 | Elias Capital, June 1, 2014 - $ 40,500 | Owners contribution $ 0 | Net Loss for the year 8,700 | Total 31,800 | Owner’s withdrawal- 27900 | Elias Capital, June 30, 2014- 3,900 |

Elias Real Estate AppraisalClassified balance SheetJune 30, 2014 | Assets | Current Assets: | Cash 4,900 | Account Receivable 5,300 | Office Supplies 2,400 | Prepaid insurance 1,800 | Total current assets 14,400 | | Plant assets: | Building 74,400 | Less accu. Depr. Building-...

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