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Pearl Russell owns Total Care Services. Prepare an income statement, statement of owner's equity and a balance sheet for Total Care Services for the month
Pearl Russell owns Total Care Services. Prepare an income statement, statement of owner's equity and a balance sheet for Total Care Services for the month ended, May 31, 2017, using the following accounts in the first month of operations: $2,865 $1,700 $250 $2,400 $2,000 Cash Accounts Receivable Supplies Vehicles Equipment Accounts Payable S. Russell, Investments S. Russell, Drawings Service Revenue Fuel Expense Telephone Expense $600 $6,200 $900 $3,460 $110 $35 Prepare the income statement for Total Care Services. TOTAL CARE SERVICES Income Statement Prepare the owner's equity statement for Total Care Services. (List items that increase owner's equity first.) TOTAL CARE SERVICES Statement of Owner's Equity $ Prepare the balance sheet for Total Care Services. (List Assets in order of liquidity.) TOTAL CARE SERVICES Balance Sheet Assets $ Liabilities and Owner's Equity
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