Kate's Kite Company (a corporation) sells and repairs kites from manufacturers around the world. Its stores are located in rented space in malls and shopping centers. During its first month of operations ended April 30, Kate's Kite Company completed eight transactions with the dollar effects indicated in the following schedule: DOLLAR EFFECT OF EACH OF THE EIGHT TRANSACTIONS (d) Ending (c) (f) Accounts (b) $82,000 $(15,400) $(6,200) $ 9,820 (a) (e) (g) $(1,300) $(2,480) $ 3,960 (h) Balance Cash 4,180 (7,000) Accounts Receivable Inventory 24,800 Prepaid Expenses Store Pixtures 1,860 15,400 Accounts Payable Unearned Revenue 18,600 $1,480 2,510 Common Stock ($1 par value) Additional Paid-in Capital 10,000 72,000 Sales Revenue 1,450 14,000 7,000 Cost of Sales Wages Expense Rent Expense Utilities Expense 1,300 620 1,480 Required: 2. Compute the ending balance in each account and prepare an unadjusted classified income statement and a classified balance sheet for Kate's Kite Company on April 30. Complete this question by entering your answers in the tabs below. Req 2A Req 28 Compute the ending balance in each account and prepare an unadjusted classified income statement for Kate's Kite Company on April 30. KATE'S KITE COMPANY Income Statement (unarllusterd Required: 2. Compute the ending balance in each account and prepare an unadjusted classified income statement and a classified balance sheet for Kate's Kite Company on April 30. Complete this question by entering your answers in the tabs below. Req 2A Req 28 ok Compute the ending balance in each account and prepare an unadjusted classified income statement for Kate's Kite Company on April 30. nt KATE'S KITE COMPANY Income Statement (unadjusted) ences 24 Total revenues Expenses: Total operating expenses Required: 2. Compute the ending balance in each account and prepare an unadjusted classified income statement and a classified balance sheet for Kate's Kite Company on April 30. Complete this question by entering your answers in the tabs below. pped Reg 28 Req 2A Compute the ending balance in each account and prepare an classified balance sheet for Kate's Kite Company on April 30. ok KATE'S KITE COMPANY Balance Sheet Print Liabilities and Shareholders' Equity Assets Current Assets: Current Liabilities: erences Total current liabilities Total current assets Shareholders' Equity: Long Term Assets: Total shareholders' equity O Total Liabilities & Shareholders' Equity %2$ 24 Total Assets aw Caten
