The Account Balances of Awesome Travel Services at December 31

Essay

The account balances of Awesome Travel Services at December 31 are listed below. There were no additional investments or withdrawals by J. Trendsetter during the year. $$\begin{array} { l l l l } \text { Accounts payable } & \$ 12,000 & \text { Retained earnings Jan. 1) } & \$ 10,000 \\\text { Accounts receivable } & 14,000 & \text { Supplies } & 1,000 \\\text { Cash } & 18,000 & \text { Income taxes expense } & 1,300 \\\text { Computer equipment } & 21,000 & \text { Utilities expense } & 8,000 \\\text { Fees earned } & 78,000 & \text { Wages expense } & 25,000 \\\text { Rent expense } & 10,000 & \text { Supplies expense } & 1,700\end{array}$$ Prepare an income statement, retained earnings statement, and a balance sheet as of December 31.