Selected Data from the Ledger of Burt Co Prepare a Single-Step Income Statement and a Statement of Owner's

question 46

Essay

Selected data from the ledger of Burt Co., after adjustments, on September 30, the end of the fiscal year, are listed as follows:​ $\begin{array}{lrlr}\text { Accounts Receivable } & \$ 39,120 & \text { Office Equipment } & \$ 82,700 \\\text { Accumulated Depreciation } & 60,540 & \text { Prepaid Insurance } & 4,680 \\\text { Administrative Expenses } & 90,000 & \text { Note Payable } & 77,750\\\text { Bob B urt, Capital } & 85,000 & \text { Salaries Payable } & 3,060 \\\text { Bob B urt, Drawing } & 65,000 & \text { Sales } & 950,000 \\\text { Cost of Merchandise Sold } & 550,000 & \text { Selling Expenses } & 102,000 \\\text { Interest Revenue } & 10,000 & \text { Supplies } & 3,125\end{array}$ Prepare a single-step income statement and a statement of owner's equity.​