Interim statements consist of year-to-date income statements,statements of owner's equity, and balance sheets as...

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Accounting

Interim statements consist of year-to-date income statements,statements of owner's equity, and balance sheets as of variousdates during the fiscal period. Assume that Maria’s Beauty Spa’sfiscal period does not end on June 30 but rather December 31.
Maria's Beauty Spa Adjusted Trial Balance June 30, 20--
ACCOUNT TITLE DEBIT BALANCE CREDIT BALANCE
Cash 11,185.00
Accounts Receivable 750.00
Supplies 220.00
Prepaid Insurance 500.00
Accounts Payable 150.00
Maria Costa, Capital 10,520.00
Maria Costa, Drawing 1,200.00
Income from Spa Services 7,500.00
Wages Expense 2,620.00
Rent Expense 700.00
Telephone Expense 65.00
Supplies Expense 585.00
Miscellaneous Expense 345.00
Using the above information complete an interim balance sheetfor June for Maria's Beauty Spa. Maria's Beauty Spa Balance SheetJune 30, 20--
Assets $
_____
_
_
_
Total Assets $
Liabilities $
Owner's Equity
______
Total Liabilities and Owner's Equity $

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4.3 Ratings (762 Votes)

	Balance sheet
			$	$
	Assets
Current assets:
Cash			11185
Accounts receivable			750
Supplies			220
Prepaid insurance			500
Total current assets				12655
Total assets				12655
	Liabilities and owner's equity
Current liabilities:
Accounts payable		a		150
Owner's equity:
Maria costa,Capital		(Note:1)	13705
Maria costa,Drawing			-1200
Total owner's equity		b		12505
Total liabilities and owner's equity		a+b		12655

Note:1
Maria costa capital will be increased by net income
Net income:
		$	$
Income from spa service			7500
Less:
Wages expense		2620
Rent expense		700
Telephone expense		65
Supplies expense		585
Miscellaneous expense		345	4315
Net income			3185

Maria costa,capital=10520+3185=$ 13705

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Transcribed Image Text

In: AccountingInterim statements consist of year-to-date income statements,statements of owner's equity, and balance sheets as of...Interim statements consist of year-to-date income statements,statements of owner's equity, and balance sheets as of variousdates during the fiscal period. Assume that Maria’s Beauty Spa’sfiscal period does not end on June 30 but rather December 31.Maria's Beauty Spa Adjusted Trial Balance June 30, 20--ACCOUNT TITLE DEBIT BALANCE CREDIT BALANCECash 11,185.00Accounts Receivable 750.00Supplies 220.00Prepaid Insurance 500.00Accounts Payable 150.00Maria Costa, Capital 10,520.00Maria Costa, Drawing 1,200.00Income from Spa Services 7,500.00Wages Expense 2,620.00Rent Expense 700.00Telephone Expense 65.00Supplies Expense 585.00Miscellaneous Expense 345.00Using the above information complete an interim balance sheetfor June for Maria's Beauty Spa. Maria's Beauty Spa Balance SheetJune 30, 20--Assets $____________________________________Total Assets $Liabilities $Owner's Equity__________Total Liabilities and Owner's Equity $