part 2:

Below is a fact scenario. Using the box provided to the right, prepare an Income Statement for Bonnie's Catering Service for the year ending December 31, 2020, demonstrating that Bonnie earned income of $121,000. Assume the company is not subject to income tax. You are expected to provide at least 5 separate expense accounts.

During the spring semester of her senior year, Bonnie decided to open a catering business. She created her business in December 2019 by investing $25,000 of her own money and she borrowed $30,000 from the bank by signing a two-year note payable promising to pay interest every 12 months with the first interest payment due December 31, 2020. On January 1, 2020 she rented a small kitchen space and purchased a stove, supplies, and food. At the end of 2020 Bonnie had no supplies or food left over.

A review of the checkbook showed the following:

Bank deposits of collections from customers totaled $140,000.

The following checks had been written: disposable plates and utensils, $7,500; food, $18,000; buying a used stove $12,000; workers' wages, $4,100; interest on the loan, $2,300; cell phone bill, $1,900; rent, $5,000.

A notebook kept in the kitchen reflected the following:

Customers still owed her $25,000 for catering services already rendered and she owed $3,200 for disposable plates and utensils (credit card charges). In addition, Bonnie estimated that she used up one sixth of the stove during 2020.

If possible an explanation to solve the problem, thank you! (via excel)

28 Conditional Forn Formatting as Ta fx D E Below is a free scenario. Using the box provided to the right, prepare an Income Statement for Boonie's Catering Service for the year ending December 31, 2020, demonstrating that Boonle earned income of 5121,000. Assume the company is not subject to Income tax. You are expected to provide at least 5 separate expense accounts. During the spring semester of her senior year, Bonnie decided to open a catering business. She created her business in December 2019 by investing $25,000 of her own money and she borrowed $30,000 from the bank by signing a two year note payable promising to pay interest every 12 months with the first interest payment due December 31, 2020. On January 1, 2020 she rented a small kitchen space and purchased a stove, supplies, and food. At the end of 2020 Bonnie had no supplies or food left over A review of the checkbook showed the following: Bank deposits of collections from customers totaled $140,000 The following checks had been written: disposable plates and utensils $7,500,food, $18,000, buying a used stove $12,000, workers' wages, S4, 100, interest on the loan $2,300, cell phone bil, $1,900, rent, $5,000. A notebook kept in the kitchen reflected the following: Customers still owed her $25,000 for catering services already rendered and she owed $3,200 for disposable plates and utensils (credit card charges). In addition, Bonnie estimated that she used up one sixth of the stove during 2020 C D E F G H Below is a fact scenario. Using the box provided to the right, prepare an Income Statement for Bonnie's Catering Service for the year ending December 31, 2020, demonstrating that Bonnie earned income of $121,000. Assume the company is not subject to income tax. You are expected to provide at least 5 separate expense accounts. During the spring semester of her senior year, Bonnie decided to open a catering business. She created her business in December 2019 by investing $25,000 of her own money and she borrowed $30,000 from the bank by signing a two-year note payable promising to pay interest every 12 months with the first interest payment due December 31, 2020. On January 1, 2020 she rented a small kitchen space and purchased a stove, supplies, and food. At the end of 2020 Bonnie had no supplies or food left over. A review of the checkbook showed the following: Bank deposits of collections from customers totaled $140,000. The following checks had been written: disposable plates and utensils, $7,500; food, $18,000; buying a used stove $12,000; workers' wages, $4,100; interest on the loan, $2,300, cell phone bill, $1,900; rent, $5,000. A notebook kept in the kitchen reflected the following: Customers still owed her $25,000 for catering services already rendered and she owed $3,200 for disposable plates and utensils (credit card charges). In addition, Bonnie estimated that she used up one sixth of the stove during 2020