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Blossom Co. was organized on July 1, 2022. Quarterly financial statements are prepared. The unadjusted and adjusted trial balance as of September 30 are shown
Blossom Co. was organized on July 1, 2022. Quarterly financial statements are prepared. The unadjusted and adjusted trial balance as of September 30 are shown below. BLOSSOM CO. Trial Balance September 30, 2022 Unadjusted Adjusted Dr. Cr. Dr. Cr. Cash $ 8,800 $ 8,800 Accounts Receivable 10,500 11,600 Supplies 1,500 700 Prepaid Rent 2,200 1,200 Equipment 18,800 18,800 Accumulated Depreciation-Equipment $ 0 $ 700 Notes Payable 9,400 9,400 Accounts Payable 2,500 2,500 Salaries and Wages Payable 0 720 Interest Payable o 94 Unearned Rent Revenue 1,850 1,100 Owner's Capital 21,900 21,900 Owner's Drawings 1,600 1,600 Service Revenue 17,900 19,000 Rent Revenue 1,380 2,130 Salaries and Wages Expense 8,200 8,920 Rent Expense 1,850 2,850 Depreciation Expense 700 Supplies Expense 800 Utilities Expense 1,480 1,480 Interest Expense 94 $ $ $ $ 54,930 $ 54,930 $ 57,544 $ 57,544 Prepare an income statement for the 3 months ending September 30, 2022. BLOSSOM CO. Income Statement For the Quarter Ended September 30, 2022 Revenues Service Revenue $ 19000 Rent Revenue 2130 Total Revenues 21130 Expenses Salaries and Wages Expense 8920 i Rent Expense 2850 i Depreciation Expense 700 i Supplies Expense 800 i Utilities Expense 1480 i Interest Expense 94 i Total Expenses 14844 i Net Income /(Loss) $ 6286 Attempts: unlimited Prepare a statement of owner's equity for the 3 months ending September 30, 2022. (List items that increase owner's equity first.) BLOSSOM CO. Owner's Equity Statement For the Quarter Ended September 30, 2022 $ 21900 Add V: $ $ Save for Later Attempts: unlimited Submit
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