Oct 27 Bought equipment i 28 Bought additional equipment on account HU 29 Paid $400 to Ryan Co. as partial payment of the October 28 transaction (You should now prepare your balance sheet as of October 31, 2019.) Now Catered a graduation and immediately collected cash, $2,200. 5 Paid salaries of employees, $550. 8 Prepared desserts for customers on account, $250. 10 Received $80 cash as partial payment of November 8 transaction. 15 Paid telephone bill, $50. 17 John paid his home electric bill with a company cheque, $120. 20 Catered a wedding and received cash, $2,500. 25 Bought additional equipment on account, $1,300. 28 Rent expense due but not yet paid, S650. 30 Paid supplies expense, $550. GROUP C PROBLEMS (Excel templates for all questions are available in MyAccountingLab.) P1-1C. The following are incomplete financial statements for Good Home Hardw Calculate the missing values and complete the statements. GOOD HOME HARDWARE Income Statement For the Year Ended July 31, 2019 $142,000 6,000 $148,000 Revenue: Service Revenue Repair Revenue Total Revenue Operating Expenses: Wages Expense Rent Expense Supplies Expense Utilities Expense Interest Expense Total Operating Expenses Net Income $52,000 24,000 11,400 (a) 500 97,700 (b) GOOD HOME HARDWARE Statement of Owner's Equity For the Year Ended July 31, 2019 M. Good, Capital, August 1, 2018 Add: Investments by Owner Net Income $ (C) Total (d) Less: Withdrawals by Owner M. Good, Capital, July 31, 2019 $ 79,300 e) $129,600 $ 95,600 Oct 27 Bought equipment i 28 Bought additional equipment on account HU 29 Paid $400 to Ryan Co. as partial payment of the October 28 transaction (You should now prepare your balance sheet as of October 31, 2019.) Now Catered a graduation and immediately collected cash, $2,200. 5 Paid salaries of employees, $550. 8 Prepared desserts for customers on account, $250. 10 Received $80 cash as partial payment of November 8 transaction. 15 Paid telephone bill, $50. 17 John paid his home electric bill with a company cheque, $120. 20 Catered a wedding and received cash, $2,500. 25 Bought additional equipment on account, $1,300. 28 Rent expense due but not yet paid, S650. 30 Paid supplies expense, $550. GROUP C PROBLEMS (Excel templates for all questions are available in MyAccountingLab.) P1-1C. The following are incomplete financial statements for Good Home Hardw Calculate the missing values and complete the statements. GOOD HOME HARDWARE Income Statement For the Year Ended July 31, 2019 $142,000 6,000 $148,000 Revenue: Service Revenue Repair Revenue Total Revenue Operating Expenses: Wages Expense Rent Expense Supplies Expense Utilities Expense Interest Expense Total Operating Expenses Net Income $52,000 24,000 11,400 (a) 500 97,700 (b) GOOD HOME HARDWARE Statement of Owner's Equity For the Year Ended July 31, 2019 M. Good, Capital, August 1, 2018 Add: Investments by Owner Net Income $ (C) Total (d) Less: Withdrawals by Owner M. Good, Capital, July 31, 2019 $ 79,300 e) $129,600 $ 95,600