oup picker ignon 7 Prepare Statements from Trial Balance - ACTG1000/2449/Financial Accounting I(B)/Fagan,Gina/Spona... Chapter 2 - Assignment 7 Prepare Statements from Trial... i 1 nts eBook Print erences Acct. No 101 106 124 128 163 201 230 301 302 403 623 640 690 Revenues: Cash Accounts receivable Office supplies Prepaid insurance Office equipment Hipster Optical Trial Balance May 31, 2023 Account Title Accounts payable Unearned service revenue Peeta Black, capital Peeta Black, withdrawals Services revenue Wages expense Rent expense Utilities expense Totals HIPSTER OPTICAL Income Statement For Month Ended May 31, 2023 Services revenue Operating expenses: Wages expense Rent expense Utilities expense Total operating expenses Required: Using the trial balance provided above, prepare an income statement and statem May 31, 2023, and a balance sheet at May 31, 2023. $ 14,400 3,700 1,340 Debit Credit $17,900 7,880 5,800 9,220 25,000 ezto.mheducation.c $ $ 1,540 7,200 55,700 22,220 1,420 14,400 3,700 1,340 $86,660 $86,660 22,220 19,440 Saved Prev 1 of 1

Required: Using the trial balance providod above, prepare an income statement and staten May 31, 2023, and a balance sheet at May 31, 2023. Journal entry worksheet Record the receipt of the May utility bill, which will be paid next month. Note: Enter debits before credits. \begin{tabular}{|c|c|c|c|c|} \hline \multirow{4}{*}{\begin{tabular}{l} 10 \\ points \end{tabular}} & \multicolumn{4}{|c|}{\begin{tabular}{l} HIPSTER OPTICAL \\ statement of Charges in Equity \\ For Month Ended Miy 31,2023 \end{tabular}} \\ \hline & Peeta Black caphin, May 1 & & 3 & 0 \\ \hline & Aod: Investment by owner & & & \\ \hline & Ads: Profs & 2,760 & & 2780 \\ \hline & sint & & & 2.760 \\ \hlineE & Lesax. Witherowals by owner. & 1,420 & & \\ \hline ebsek & & & 5 & 1,420 \\ \hline & Peeta Black, capital, Mar 31 & & 5 & 57,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{6}{|c|}{ HIPSTER OPTICAL } \\ \hline \multicolumn{6}{|c|}{ Batance Shat: } \\ \hline \multicolumn{6}{|c|}{ Nary 3t, avos } \\ \hline \multicolumn{3}{|c|}{ Assess } & \multicolumn{3}{|c|}{ Liabilities } \\ \hline Cast & 5 & 17,960 & Pcoourts parastie & $ & 1,540 \\ \hline Accounts recoind ie & & 7,850 & Jaeamed service rovenue & & 7.200 \\ \hline Onloe expplies & & 5800 & Poota liack captor & & 57,060 \\ \hline Prepsid ingutance & & 92200 & Tocal lacelites & & 65,800 \\ \hline Ofice equipment & & 25,000 & Equey & & \\ \hline & & & & & \\ \hline \begin{tabular}{|l|} Total assets \\ \end{tabular} & s & 65,060 & Total liabilices and equily & 5 & 65,800 \\ \hline \end{tabular} Prev 1 of 1 III Next. Analysis Component: Prepare two different journal entries that might have created the May 31, 2023 balance in the Utilities Expense of $1,340. Us 2023 as the date for your entries. Journal entry worksheet Record the balanse in utilities expense of $1,340 on May 31,2023. Note: Enter debits before credits