please just complete the blank charts. income statement and balance sheet 

ACC160 – Principles of Financial Accounting I
Instructor: Amani U. Davis-Martinez

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Chapter 4: Completing the Accounting Cycle

Unit 3 In-Class Activity Financial Statements Practice

Using the information below on the Adjusted Trial Balance, prepare the provided financial statements for Bentley Luxury Car Services. Owner Rose Royce did not make any additional investments in the company during the year.















Bentley Luxury Car Services
Adjusted Trial Balance
For the year ended December 31





Accounts receivable


Office supplies




Accumulated depreciation—Vehicles



Accounts payable


Notes payable


Rose Royce, Capital


Rose Royce, Withdrawals


Concierge Services


Rental Fees Earned


Rent expense


Office Supplies



Utilities expense


Depreciation Expense—Vehicles


Salary expense


Fuel expense




Rental Fees Earned

Utilities expense

Salary expense

Fuel expense

Bentley Luxury Car Services
Income Statement
For the year ended December 31


Concierge Services



Total Revenues



Rent Expenses


Office supplies expense



Depreciation expense – Vehicles




Total expenses


Net income


Bentley Luxury Car Services
Statement of Owner’s Equity
For the year ended December 31

R. Royce, Capital

January 1


Plus: Net income



Less: Withdrawals by owner


R. Royce, Capital, December 31






Bentley Luxury Car Services
Balance Sheet
December 31, 2021


Accounts Receivable


Office Supplies



Less: Accumulated Depreciation – Vehicles



Total Assets



Accounts Payable


Notes Payable


Total Liabilities



R. Royce, Capital


Total Liabilities and Equity

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