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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 Accounts Receivable Fees Income Boats Gasoline Expense Loans Payable Owners' Withdrawal $ 18,000 Rent Expense 2,600 Cash 30,000 Salaries Expense 103,000 Utilities Expense 7,500 Supplies 77,500 Initial Investment 4,100 Accounts Payable $ 4,800 6,200 10,800 1,900 3,600 51,000 4,000 Prepare an income statement and a statement of owner's equity for the month and a balance sheet as of August 31, 2019. Complete this question by entering your answers in the tabs below. Income Statement Stmt of Owners Eqty Balance Sheet Prepare a balance sheet for August 31, 2019. MCKINLEY CHARTER SERVICE Balance Sheet August 31, 2019 Liabilities Assets Owner's Equity Total Assets $ 0 Total Liabilities and Owner's Equity $ 0 Stmt of Owners Eqty Balance Sheet>
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