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, 2002 | ||
| Account | Debit | Credit |
| Cash | $30,000 | $467,300 |
| Account Receivable | $1,041,696 | |
| Revenue | $1,041,696 | |
| Depreciation Expense | $12,000 | |
| Rent/Insurance | $52,000 | |
| Marketing Expense | ||
| Loan Payable | $13,300 | $30,000 |
| Equity | ||
| Utilities Expense | $12,000 | |
| Accumulated Depreciation | $12,000 | |
| Intangible Asset | $95,000 | |
| Wage Expense | $330,000 | |
| R&D Expense | ||
| Account Payable | $20,000 | $70,000 |
| Professional Fees | $15,000.00 | |
| Total | $1,620,996 | $1,620,996 |
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