Prepair the following financial statements for these photos

Prepair the following financial statements for these photos? Balance Sheet-Income Statement-Adjusted Trial Balance

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Solution

Lee Company Adjusting Trial Balance 30-Sep-17 Particulars Dr. Amt. Cr. Amt Cash    1,997,000.00 Supplies            2,000.00 Accounts Receivable        200,000.00 Equipment        400,000.00 Accumulated Dep. - Equipment            4,000.00 Accounts Payable          11,000.00 Interest Payable            1,000.00 Notes Payable        100,000.00 Unearned Service Revenue          10,000.00 Chris Lee, Capital    2,000,000.00 Service Revenue        490,000.00 Rent Expenses            3,000.00 Supplies Expenses            9,000.00 Depreciation Expenses            4,000.00 Interest Expenses            1,000.00 Total    2,616,000.00    2,616,000.00                         -   Supplies Expenses = $11,000 - $2,000 = $9,000 Dep. Expenses - Equipment = ($400,000 - $160,000) / 5 Years X (1/12) Dep. Expenses - Equipment = $4,000 Interest expenses = $100,000 x 12% x (1/12) Interest expenses = $1,000 Lee Company Income Statement For the Month Ended Sep 30, 2017 Revenue Service Revenue        490,000.00 Expenses Rent Expenses            3,000.00 Supplies Expenses            9,000.00 Depreciation Expenses            4,000.00 Total Expenses          16,000.00 Net Operating Income        474,000.00 Other Income & Expenses Interest Exp.            1,000.00 Total Other Income & Expenses            1,000.00 Net Income        473,000.00 Lee Company Statement of Owners\' Capital For the Month Ended Sep 30, 2017 Beginning Balance                         -   Investment - Chris Lee    2,000,000.00 Sub-total    2,000,000.00 Net Income        473,000.00 Ending Balance Sep 30, 2017    2,473,000.00 Lee Company Balance Sheet As on Sep 30, 2017 Assets Current Assets Cash    1,997,000.00 Supplies            2,000.00 Accounts Receivable        200,000.00 Total Current Assets    2,199,000.00 Property, Plant & Equipment Equipment 400000 Accumulated Dep. - Equipment            4,000.00 Total Property, Plant & Equipment        396,000.00 Total Assets    2,595,000.00 Liabilities & Owners\' Equity Liabilities Current Liabilities Accounts Payable          11,000.00 Interest Payable            1,000.00 Notes Payable        100,000.00 Unearned Service Revenue          10,000.00 Total Current Liabilities        122,000.00 Long-Term Liabilities Supplies Expenses Total Liabilities Owners\' Equity Chris Lee, Capital    2,473,000.00 Interest Expenses Total Liabilities & Owners\' Equity    2,595,000.00