Ex. 233
The financial statement columns of the worksheet for Dr. Gumbo’s Catering Company as ofDecember 31, 2014 are as follows:
DR. GUMBO’S CATERING COMPANY
Worksheet
For the Year Ended December 31, 2014
Statement of
Income Statement Financial Position
Accounts Debit Credit Debit Credit
Cash15,000
Accounts Receivable6,000
Supplies4,500
Prepaid Insurance7,000
Equipment60,000
Accumulated Depreciation?Equip.4,800
Copyrights7,500
Accounts Payable23,500
Bonds Payable (due 2018)18,000
Share Capital-Ordinary25,000
Retained Earnings26,000
Dividends4,200
Service Revenue25,400
Salaries and Wages Expense5,200
Depreciation Expense4,800
Insurance Expense5,000
Income Tax Expense 3,500
Totals18,50025,400104,20097,300
Net Income 6,900 6,900
25,40025,400104,200104,200
Instructions
Prepare a classified statement of financial position for Dr. Gumbo’s Catering Company.