need some help filling this out thank you and im not sure if my answers are corr

Question

need some help filling this out thank you and im not sure if my answers are correct in my part 1 below

Tybalt Construction Income Statement For Year Ended December 31, 2017 Tybalt Construction Statement of Ovner's Equity For Year Ended December 31, 2017 Tybalt Construction Balance Sheet December 31, 2017 O. Tybalt, Capital, December 31, 2016 O. Tybalt, Capital ADD: Investment by Owner Add Net Inoome Sub-Total LESS: O. Tybalt, withdrawls O. Tybalt, Capital, December 31, 2017 Assets 126,400 Professional Fees Earned Rent Earned Dividends Earned Interest Eaned Total Revenue 97,000 14,000 2,000 Current Assets 5,000 23,000 8,100 7,000 Cash 4,300 130,700 13,000 117,700 115,100 115,100 PrepaidInsurance Total Current Assets Plant assets 43,100 43,100 Chect 117,700 40,000 Depreciation Expense -Building 11,000 Depreciation Expense -Equipmer Wages Expense Interest Expense Insurance Expense Rent Expense Supplies Expense Postage Expense Property Taes Expense Repairs Expense 6,000 32,000 5,100 10,000 13,400 7,400 4,200 5,000 8,900 3,200 4,600 Accumulated Depreciation -Equip 20,000 50,000 Land Total Plant Assets Total Assets 55,000 175,000 218,100 218,100 175,000 Liabilities Current Liabilities Accounts Payable Interest Payabkle Rent Payable Wages Payable Property Taxes Payable Unearned Professional Fees Current Portion of Long-Term Notes 16500 2500 3500 2500 900 7500 7000 Utilities Expense Total Expenses 110,8001 110,800 4.300 4,300 Net Income 40,400 60,000 100,400 Total Current Liabilities Long-Term Notes Payable 60,000 Total Liabilities Equity 0. Tybalt, Capital Total Liabilities and Equit 117,700 218,100 218.100

Explanation / Answer

General Journal Date Account Debit Credit 1 31-Dec Professional fees earned 97000 Rent earned 14000 Dividends earned 2000 Interest earned 2100 Income Summary 115100 (To close revenue account) 2 31-Dec Income Summary 110800 Depreciation expense-Building 11000 Depreciation expense-Equipment 6000 Wages expense 32000 Interest expense 5100 Insurance expense 10000 Rent expense 13400 Supplies expense 7400 Postage expense 4200 Property taxes expense 5000 Repairs expense 8900 Telephone expense 3200 Utilities expense 4600 (To close expense accounts) 3 31-Dec Income Summary ($115100 - $110800) 4300 O. Tybalt, Capital 4300 (To close Income Summary) 4 31-Dec O. Tybalt, Capital 13000 O. Tybalt, Withdrawals 13000 (To close Withdrawals account) Pro Fees Earned Rent Earned Div Earned 97000 97000 14000 14000 2000 2000 0 0 0 All Expenses Income Summary Int. Earned 11000 110800 110800 97000 2100 2100 6000 4300 14000 0 32000 2000 5100 2100 10000 0 13400 7400 4200 5000 8900 3200 4600 0 O. Tybalt, Capital O. Tybalt, With. 13000 126400 13000 13000 4300 0 117700

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