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DO IT! 1.6 | Financial Statements Listed below, in alphabetical order, are the financial statement items for Park Accounting Services. Prepare an income statement, statement
DO IT! 1.6 | Financial Statements Listed below, in alphabetical order, are the financial statement items for Park Accounting Services. Prepare an income statement, statement of owner's equity, and balance sheet for the month ended January 31, 2021. Accounts payable $ 5,000 M. Park, capital, January 1, 2021 $10,350 Accounts receivable 2,500 M. Park, drawings 3,000 Advertising expense 500 Prepaid rent 1,300 Cash 8,200 Rent expense 850 Equipment 10,000 Service revenue 11,000
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