Please create income statement and balance sheet from the trial balance below. As of...
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Accounting
Please create income statement and balance sheet from the trial balance below.
| As of December 31st, 2001 | ||
| Account | Debit | Credit |
| Cash | $339,700 | $0 |
| Account Receivable | $401,305 | |
| Revenue | $401,305 | |
| Depreciation Expense | $2,000 | |
| Rent/Insurance | $23,000 | |
| Marketing Expense | $1,000 | |
| Loan Payable | $300 | |
| Equity | $500,000 | |
| Utilities Expense | $4,000 | |
| Accumulated Depreciation | $2,000 | |
| Intangible Asset | $63,800 | |
| Wage Expense | $120,000 | |
| R&D Expense | $2,000 | |
| Account Payable | $53,800 | |
| Total | $957,105 | $957,105 |
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