Rus Company was organized on April 1, 2X20. The company’s adjusted trial balance is shown below.   Debit Credit Cash P 6,700   Accounts Receivable 600   Prepaid Rent 900   Supplies 1,000   Equipment 15,000   Owner’s Drawings 600   Salaries and Wages Expense 9,400   Rent Expense 1,500   Depreciation Expense 850   Supplies Expense 200   Utilities Expense 510   Interest Expense 50   Accumulated Depreciation – Equipment   P850 Notes Payable   5,000 Accounts Payable   1,510 Salaries and Wages Payable   400 Interest Payable   50 Unearned Rent Revenue   500 Owner’s Capital   14,000 Service Revenue   14,200 Rent Revenue   800   P37,310 P37,310 Requirement: Using the given information, prepare the following financial statements.  Income Statement Statement of Financial Position Statement of Owner’s Equity

Rus Company was organized on April 1, 2X20. The company’s adjusted trial balance is shown below.

 

Debit

Credit

Cash

P 6,700

 

Accounts Receivable

600

 

Prepaid Rent

900

 

Supplies

1,000

 

Equipment

15,000

 

Owner’s Drawings

600

 

Salaries and Wages Expense

9,400

 

Rent Expense

1,500

 

Depreciation Expense

850

 

Supplies Expense

200

 

Utilities Expense

510

 

Interest Expense

50

 

Accumulated Depreciation – Equipment

 

P850

Notes Payable

 

5,000

Accounts Payable

 

1,510

Salaries and Wages Payable

 

400

Interest Payable

 

50

Unearned Rent Revenue

 

500

Owner’s Capital

 

14,000

Service Revenue

 

14,200

Rent Revenue

 

800

 

P37,310

P37,310

Requirement: Using the given information, prepare the following financial statements. 

  1. Income Statement
  2. Statement of Financial Position
  3. Statement of Owner’s Equity
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