Feline Pet Care

Trial Balance

July 31, 2020Acct.NoAccount TitleDebitCredit101Cash$24,000106Accounts receivable12,600128Prepaid insurance13,500163Equipment19,200173Building202,000183Land146,000201Accounts payable$25,640230Unearned revenue97,000301Dwight Turnbull, capital302,760302Dwight Turnbull, withdrawals6,000401Revenue138,900623Wages expense68,000645Equipment rental expense44,000655Advertising expense10,200684Pet food expense18,800Totals$564,300$564,300

Required:

Using the trial balance provided above, prepare an income statement and statement of changes in equity for the first year ended July 31, 2020, and a balance sheet at July 31, 2020.

Midterm e 1 Cash 4, Computer equipment 4, Furniture 4, Breanne Allarie, capital, June 30, 2020* 17, Office rent expense 5. Owner's investments during July 2020 3, Owner's withdrawals 3, Supplies 2, Textbook rental revenue Tutoring revenue 6, Tutors' wages expense 1, Utilities expense 200 800 400 800 100 800 600 320 560 800 800 940 'Hint': The ending capital balance for one period is the beginning capital balance for the next period. Use the above information to prepare a July income statement. Total revenues Operating expenses: $ 5,100 _ Tutors' wages expense 1,800 _ Utilities expense Total operating expenses _ Prev 1of5 Next > Help Save 8. Exit Submit