AutoSave off Ch 1 Assign Student Copy of Ch 1 Entries and financial statem Home Insert Draw Page Layout Formulas Data Review View Help Calibri 9.12 AA ab Wrap Te Paste BI U E E E SE Merge Undo Clipboard S A B C D Font Alignment E F H 1 2 3 456 7 8 9 10 11 72 13 14 15 Before you begin, print out all the pages in this workbook. Various transactions of Singh Services Inc. occurred during August 2019, its first month of operations. Click on "Transactions" tab at bottom of this page to view these. Required: 1 On the printed "Worksheet" page, record the information from the "Transactions" page and total of each column at the end of August. 2 On the second part of the "Worksheet" page, prepare an income statement and statement of changes in equity for the month ended August 31, 2019, and a balance sheet at August 31, 2019. Identify the revenue earned as Fees. Record the expenses in alphabetical order. 16 17 18 19 20 ome ave Off Ch 1 Assign Student Copy of Ch 1 Entries and financial statements US Edition at August 29 18 Excel Insert Draw Page Layout Formulas Data Review View Help Calibri 12 3 AA a Wrap Text Paste BIU A Merge & Center General $ NP Clipboard Font E Alignment 2 % 0 Number 00 A B C D E E G H Transaction N Amount 0 ugust 1 Issued common shares for cash 5,000 1 1 ALASTA Borrowed cash from the bank 7,000 Paid cash for a used truck 6,000 4 5 Paid cash for a one-year truck insurance policy effective August 1 (record as an asset) Collected fees in cash from a client for work to be performed at a later date 600 5.000 7 Billed a client for services performed today 1,000 9 Paid cash for supplies purchased and used today 200 12 Purchased supplies on credit (record as an asset) 100 0 15 Collected part of the amount billed August 7 400 71 16 Paid cash for advertising in The News during the first two weeks of August 200 12 20 Paid in cash part of the amount owing for supplies purchased on August 12 80 13 25 Paid the following August expenses in cash: 14 Rent 700 2,000 15 16 Salaries 200 Telephone 500 17 Truck operating 18 28 Called clients about payment of the balances owing from August 7 19 29 20 31 Billed a client for services performed today, including $1,500 related to cash received August 5 Transferred August's prepaid expenses to insurance expense 5,000 60 21 31 Counted supplies and found this amount still on hand (recorded the amount used as an expense). 80 22 23 AutoSave off abc Ch 1 Assign Student Copy of Ch 1 Entries and financial state le Home Insert Draw Page Layout Formulas Data Review View Help Calibri Paste 12 A A Wrap Text Number NO BIU A Merge & Center v $ % 950 00 0.00 Conditi Formatt Number E Undo Clipboard A B CDEF Font E Alignment GHI J KLMN 0 P Q R S TUV X Z Singh Services Inc. Transactions Worksheet 2 Date Assets 3 Acct. Ppd. Unused Bank Liabilities Acct. + 4 August Cash + + Exp. Supp. +Truck Rec. Loan + Pay.+ Unear. Rev. 5 1 5,000 S/H Equity Ret. Comm. +Stock +Earn. 5,000 Description 6 1 7,000 7,000 6,000 6,000 B 4 600 600 Issued Common shares Borrowed Money used truck Truck insurance 5 5,000 10 7 11 9 12 12 13. 15 14 16 15 20 16 25 17 18. 19 20 28 21 29 22 31 23 31 24 Totals 25 26 ASSETS 27 LIAB.+S/H EQUITY 28 29 30 ST 92 53 Required Worksheet 1 Transactions Worksheet 2 Copyright Ready Calculate W 3 oSave Off abc Undo Ch 1 Assign Student Copy of Ch 1 Entries and financial statements US Edition at August 2 Home Insert Draw Page Layout Formulas Data Review View Help Calibri 12 AA 374 ab Wrap Text Paste Clipboard v B IU Av 7 B 2 Font D E F G H Singh Services Inc. Income Statement For the Month Ended August 31, 2019 22 Merge & Center Alignment Singh Services Inc. Balance Sheet At August 31, 2019 3 A 5 Revenue 6 Fees 7 8 9 10 11 12 18 14 15 16 17 18 19 20 21 22 Expenses Advertising Insurance Rent Salaries Supplies Telephone Truck operating Total expenses Net income (loss) Singh Services Inc. Statement of Changes in Equity For the Month Ended August 31, 2019 Cash Acct. rec. Ppd. exp. Unused supp. Truck Total assets Assets Liabilities Bank loan Acct. pay. Unearn. rev. Total liabilities Stockholders' Equity Common stock Retained earn. Total S/H equity 23 Commo n stock Retained Total earnings equity 24 Opening balance Total liab. and equity 25 Stock issued 26 Net income (loss) 1201 Ending balance 26 109 31 12 Required Transactions Worksheet 1 Worksheet 2 Copyright + Hally Calculate Type here to search General $ O N S N M