Balance Sheet & Income Statement

Ibis Hotel initiated operations on July 1, 2019. To manage the company officers and managers have requested monthly financial statements starting July 31, 2019. The adjusted trial balance amounts at July 31 are shown below.

DebitsCredits

Cash$7,680Accumulated Depreciation-Equipment $ 840

Account Receivable810 Notes Payable 6,000

Prepaid Rent1,965 Account Payable 2,140

Supplies1,160Salaries and Wages Payable 360

Equipment11,400Interest Payable 40

Owner's Drawings800Unearned Service Revenue 580

Salaries and Wages Expense 7,145 Owner's Capital 10,640

Rent Expense2,740Service Revenue 14,390

Depreciation Expense665 Total Credits $34,990

Supplies Expense580

Interest Expense 45

Total Debits$34,990

(a) Prepare the Income Statement of Ibis Hotel in July 2019!

(b) Prepare the Balance Sheet Statement of Ibis Hotel at July 31, 2019!

Note: please prepare with the correct format