Question
Guy McKinley started the McKinley Charter Service at the beginning of August 2019. On August 31, 2019, the accounting records of the business showed the
Guy McKinley started the McKinley Charter Service at the beginning of August 2019. On August 31, 2019, the accounting records of the business showed the following information.
Equipment 18,500 Gasoline Expenses 7,700
Accounts receivable 2,700 Loans Payable 78,000
Fees Income 30,250 Owners' Withdrawal 4,150
Boats 103,500 Rent Expense 5,000
Cash 6,100 Salaries Expense 10,900
Supplies 3,700 Utilities Expense 2,100
Initial Investment 51,500 Accounts Payable 4,600
Prepare an Income Statement
Revenue: $
1. $
Expenses:
1. $
2. $
3. $
4. $
5. $
Total Expenses $
Net Income (Loss) $
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