Complete the income statement and balance sheets columns of the worksheet using the following information.

Question 3
M&D Inc Adjusted Trial Balance 12/31/14
Complete the income statement and balance sheets columns of the worksheet using the following information.
Question 4
Harvest incorporated
Adjusted Trial Balance
December 31, 2014
Account title
Debit
Credit Cash 15,200
Accounts Receivable
200
Supplies 1000
Prepaid insurance
550
Equipment 5000
Accumulated Depreciation
40 Notes Payable 5000
Accounts Payable
2500 Unearned Service revenue 800
Salaries & wages payable
1200 Interest payable 50
Owner’s capital
10000 Owner’s drawing 500
Service revenue
10600 Salaries & wages expense 5200
Supplies expenses
1500
Rent expense 900
Insurance expense
50
Interest expense 50
Depreciation expense
40
Total 30,190 30,190
Account title
Debit
Credit Cash $6,700
Accounts Receivable
600
Requirements:
a) Prepare an income statement for the year ending 12/31/2014.
b) Prepare a balance sheet as of 12/31/2014.
Question 5
Use the information provided below to prepare closing entries on 12/31/2014 and then prepare the post-closing trial balances as of 12/31/2014.
EZ Inc
Income Statement
For the year ended December 31, 2014
Service revenue
$19,000 Expenses
Supplies expense
500
Salaries expense 4,000
Rent expense
1,500
Total expenses $6,000
Net income
13,000
EZ Inc
Balance sheet Supplies 1,000
Prepaid rent
900
Equipment 15,000
Accumulated Depreciation
850 Notes Payable 5,000
Accounts Payable
1,510 Unearned rent revenue 500
Salaries & wages payable
400 Interest payable 50
Owner’s capital
14,000 Owner’s drawing 600
Service revenue
14,200 Salaries & wages expense 9,400
Supplies expenses
200
Rent expense 1,500
Utilities expense
510
Interest expense 50
Depreciation expense
850
Rent revenue 800
Total
$37,310
$37,310
As of December 31, 2014
Assets Current Assets
Cash
$2,000 Accounts receivable 1,300
Supplies
600 Prepaid insurance 500
Total current assets
4,400
Property, plant and equipment Equipment $5,000
Less: Accumulated depreciation-Equipment
500
4,500 Total assets 8,900
Liabilities and Owner’s Equity Liabilities
Notes payable
$5,000 Accounts payable 700
Interest payable
100 Salaries payable 1,300
Total liabilities
7,100
Owner’s equity Owner’s capital 1,

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