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Floating Airplanes has completed all of its journal entries and adjusting entries for the month of October 2021. The adjusted trial balance is shown below.
Floating Airplanes has completed all of its journal entries and adjusting entries for the month of October 2021. The adjusted trial balance is shown below. Note: during the month of October, the owner of Floating Airplanes invested $9,850 into the business Floating Airplanes Adjusted Trial Balance October 31, 2021 Account Titles DR CR Cash $ 8,020 Accounts Receivable $7,210 Prepaid Insurance $ 1,820 Equipment $ 63,860 Accumulated Depreciation-Equipment $ 1,170 Accounts Payable $ 9,400 Interest Payable $ 130 Unearned Revenue $5,380 Bank Loan $ 15,760 Murray, Capital $ 49,040 Murray, Withdrawals $ 1,390 Service Revenue $5,220 Advertising Expense $ 430 Depreciation Expense $ 340 Insurance Expense $410 Interest Expense $ 500 Rent Expense $ 2,120 Total $ 86,100 $ 86,100 Required Prepare the income statement, statement of owner's equity, and balance sheet Do not enter dollar signs, negative signs or commas in the input boxes. Floating Airplanes Income Statement For the Month Ended October 31, 2021 Revenue Service Revenue Expenses Advertising Expense Depreciation Expense Insurance Expense Interest Expense Rent Expense Total Expenses Net Income (Loss) Floating Airplanes Statement of Owner's Equity For the Month Ended October 31, 2021 Murray, Capital at October 1, 2021 Add: Net Income (Loss) Additional Investments Total Additions Subtotal Less: Murray, Withdrawals Murray, Capital at October 31, 2021 Floating Airplanes Balance Sheet As at October 31, 2021 Assets Cash Accounts Receivable Prepaid Insurance Equipment Less: Accumulated Depreciation Equipment Net Equipment Total Assets Liabilities Accounts Payable Interest Payable Unearned Revenue Bank Loan Total Liabilities Owner's Equity Murray, Capital Total Liabilities and Owner's Equity
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