Reference no: EM131865583

Question - On January 1, 2016 the amount of Bright Futures Company's capital was $14, 320. The amounts for the various assets, liabilities, revenues, and expenditures for the year 2016 are as follows: Prepare in Good form for year ended 12/31/2016 (a) an income statement, (b) a statement of owner's equity, and (c) a balance sheet.

Telephone Expense $1,150

Cash $3,000

Accounts Payable $1,540

Jason Bright, Withdrawal $800

Service Revenue $15,700

Rent Expense $1,400

Supplies $140

Accounts Receivable $1,500

Computer Equipment $20,000

Wages Expense $4,800

Utilities Expense $750

Notes Payable $2,400

Office Expense $420