Problem 4-3a

The completed financial statement columns of the worksheet for Woods Company are shown below.

WOODS COMPANY
Worksheet
For the Year Ended December 31, 2010
			Income Statement	Balance Sheet
Acc. No.		Account Titles	Dr.	Cr.	Dr.	Cr.
101		Cash			8,200
112		Accounts Receivable			7,500
130		Prepaid Insurance			1,800
157		Equipment			28,000
167		Accumulated Depreciation				8,600
201		Accounts Payable				11,700
212		Salaries Payable				3,000
301		S. Woods, Capital				34,000
306		S. Woods, Drawing			7,200
400		Service Revenue		44,000
622		Repair Expense	5,400
711		Depreciation Expense	2,800
722		Insurance Expense	1,200
726		Salaries Expense	35,200
732		Utilities Expense	4,000
		Totals	48,600	44,000	52,700	57,300
		Net Loss		4,600	4,600
			48,600	48,600	57,300	57,300

Complete the income statement, owner's equity statement, and a classified balance sheet. S. Woods made an additional investment in the business of $4,000 during 2010. 

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