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Carla Carpenter Car Wash Company had the following business transactions during October 20xx, the first month of business activity. Carla earns revenue by washing automobiles

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Carla Carpenter Car Wash Company had the following business transactions during October 20xx, the first month of business activity. Carla earns revenue by washing automobiles and busses. All transactions relate to the affairs of the business: a) On October 1st, Carla deposits $30,000 in a bank account in the name of Carla Carpenter Car Wash Company b) On October 3, Carla buys equipment on account for $12,000 c) On October 10th, Carla pays $130.00 for supplies. d) On October 15th, Carla determines that total revenue earned for the first two weeks of the month was $6,293.00. of this amount, the amount realized in cash is $5,375.00 and the amount of accounts receivable is $918.00 e) On October 17th, Carla pays the following expenses of the business: Utilities: $280.00, Telephone: $250.00, Rent: $1,500.00, and Advertising: $435.00 f) On October 23, Carla received $660.00 in cash from clients to whom he provided services on account (see transaction "d"). 8) On October 26th, Carla pays $360 to an assistant for salaries expense. h) On October 30th, Carla determines that total revenue for the last two weeks of the month was $3,070.00 of this amount, the amount realized in cash is $2,200.00, and the amount of accounts receivable is $870.00 i) On October 31", Carla pays $5,600.00 towards to $12,000.00 owed in transaction "B". j) on October 31", Carla finds that the value of the supplies is $40.00 Required: 16) Based on the above information, prepare an Income Statement for the period October 1-31, 20xx on the accounting paper provided. Present the actual amount of Net Income or Net Loss in the answer blank on the answer sheet. 17) What is the ending balance in the Cash account on October 31, 20xx? 18) What is the total amount of all of the assets on October 31, 20xx? 19) What are the balances in the accounts receivable and the accounts payable accounts at the end of the month? 20) if Carla would have withdrawn $2,500.00 for personal use during the month, would the net income determined in question 11 have been affected? Explain your answer on the answer sheet

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