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Financial Statements James Wilson is a new staff accountant for Zoie's Beauty Supply. He has asked you to review the financial statements prepared for April
Financial Statements James Wilson is a new staff accountant for Zoie's Beauty Supply. He has asked you to review the financial statements prepared for April to find and correct any errors. Review the income statement and balance sheet that follow and identify the errors Wilson made (he did not prepare a statement of owner's equity). Prepare a corrected income statement and balance sheet, as well as a statement of owner's equity, for Zoie's Beauty Supply. Zole's Beauty Supply Income Statement April 30. 2019 388 00 00 Revenue Fees Income Expenses Salaries Expense Rent Expense Repoir Expense Utilities Expense Drowing Total Expenses Net Income 9500 00 2 500 00 800 00 170000 450000 1990 000 23 600 00 Zole's Beauty Supply Balance Sheet Month Ended April 30, 2019 Assets 7000 Lond Building Liabilities 12 000 00 Accounts Receivable 40 000 00 15 000 00 Owner's Equity 50 00 00 Zoie Taylor, Capital, April 1, 2019 56 20000 Total Liabilities and Owner's Equity Accounts Payable Total Assets 492 00 00 56 2 0.0 00
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