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Using the trial balance provided above, prepare an income statement and statement of changes in equity for the first year ended July 31, 2017, and
Using the trial balance provided above, prepare an income statement and statement of changes in equity for the first year ended July 31, 2017, and a balance sheet for July 31, 2017.
Acct. No. 101 106 128 163 173 183 201 230 301 302 401 623 645 655 684 Account Title Cash......... Accounts receivable Prepaid insurance Equipment Building Land ........... Accounts payable ..... Unearned revenue Betty Lark, capital Betty Lark, withdrawals Revenue Wages expense Feline Pet Care Trial Balance July 31, 2017 Equipment rental expense Advertising expense Pet food expense Totals. Debit $ 23,000 11,600 12,500 18,200 192,000 136,000 5,000 58,000 34,000 9,200 17,800 $517,300 Credit $ 15,540 92,000 292,760 117,000 $517,300
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AnswerStatement of Changes in Equity The statement of changes in equity is the basic financial statement that reconciles the beginning equity balances ...Get Instant Access to Expert-Tailored Solutions
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