Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help me fill in income statement, statement of owners equity and balance sheet. thank you tratruction Chart of Accounts Label and Amount Descriptions uncois

please help me fill in income statement, statement of owners equity and balance sheet. thank you
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
tratruction Chart of Accounts Label and Amount Descriptions uncois Statement statement of Owner's Equey Balance Street ob Night opened The Generals Favorite Fashing Hole in April with a $80.000 investment. The worksheet prepared after the first month of operations is The General's Favorite Work Sheet For the Month Ended ACCOUNT TITLE TRIAL BALANCE TRIAL BALANCE ADRUSTMENTS CREDIT DERIT DEBIT 1505000 SAD 38.700.00 9.000.00 0.000.00 66,500.00 70,000.00 DO DO Office Supplies Food Supplies Prepaid in thing Boats medication Fishing Boats Accounts Payable Wages Payable Bob Night Gitat Bon Night Drawing Registration fees Wages Export Een Office Supplies Food Supplies Prone Expense In this Expense cepere Postage Depreciation fee fhing Boti 171.700.00 40.000.00 40.000.00 12.00 2.000.00 1000 150.00 357.700.00 $1,200.00 554,100.00 Net Required: 7. Prepare the income statement 8. Prepare the statement of owner's guy 9. Prepare the balance sheet comprehensive Problem Instruction Chart of Accounts Label and Amount Description Income Sintement Statement of Owner's Equity Balence Sheet operations is Favorite Fishing Hole York Sheet th Ended April 30,20 KENTS ADJUSTMENTS ADJUSTED TRIAL BALANCE CREDIT INCOME STATEMENT INCOME STATEMENT BALANCE SHEET ADIUSTED TRIAL BALANCE DEBIT 130.650.00 BALANCE HEET CREDIT DEBIT CREDIT CREDIT DEBIT 10.650.00 100.00 400.00 30.700.00 1.500.00 100.00 8,000.00 8.000.00 250000 1,500.00 60.000.00 000 1,000.00 1.000.00 66.500.00 1.000.00 500.00 500.00 500.00 SOOD 90.000.00 90,000.00 6,000.00 6.000.00 19170000 171.700.00 500.00 40.500.00 40.000.00 40000 40,500.00 40,000.00 400.00 400.00 700.00 30,700.00 1.200.00 2.000.00 30,700.00 1,200.00 2.000.00 1.500.00 500.00 1.500.00 150.00 15000 100000 100.00 1.000.00 100.00 554.100.00 5529,700.00 5329.700.00 171.700.00 212.750.00 13.000.00 117,450.00 54.350.00 54.250.00 $17.700.00 SITL700.00 $217.25000 $212.750.00 ncome Statement Statement of Owner's Equity Balance Sheet CHART OF ACCOUNTS The General's Favorite Fishing Hole General Ledger REVENUE 401 Registration Fees 142 ASSETS 101 Cash 122 Accounts Receivable Office Supplies Food Supplies 145 Prepaid Insurance 181 Fishing Boats 181.1 Accumulated Depreciation-Fishing Boats 144 EXPENSES 511 Wages Expense 521 Rent Expense 523 Office Supplies Expense 524 Food Supplies Expense 525 Phone Expense 533 Utilities Expense 535 Insurance Expense 536 Postage Expense 542 Depreciation Expense-Fishing Boats LIABILITIES 202 Accounts Payable 219 Wages Payable EQUITY 311 Bob Night, Capital 312 Bob Night, Drawing 313 Income Summary Instructions Chart of Accounts Labels and Amount Descriptio Income Statement statement of Owner's Equity Balance Sheet Labels April 30, 20- Current Assets Current Liabilities Expenses For Month Ended April 30, 20- Property, Plant, and Equipment Revenues Amount Descriptions Bob Night, Capital, April 1, 20- Bob Night, Capital, April 30, 20- Decrease in Capital Increase in Capital Investments During April Net Income Net Loss Total Assets Total Current Assets Total Current Liabilities Total Expenses Total Investment Total Liabilities and Owner's Equity Withdrawals for April Comprehensive Problem Instruction Chart of Accounts Label and Amount Descriptions Income Statement Statement of Owner's Equity Baitance Sheet 7. Prepare the income statement Income Statement Instructions Question not attempted The General's Favorite Faning How Score: 0/125 1 Label 2 3 Label 1 . 30 11 12 13 14 Po Fotoa Check My Work First, consider what is included in an income statement. Then use the appropriate accounts and account balances from prepare the statement Comprehensive Problem Instructions Chart of Accounts Labels and Amount Descriptions Income Statement Statement of Owner's Equity Balance Sheet 8. Prepare the statement of owner's equilty Statement of Owner's. Equity Instructions Score: 0/71 The General's Favorite Fishing Hole Statement of Owner's Equity Label 1 2 3 4 7 RPC Fouchack Check My Work First, consider what is included in a statement of owner's equity. Then use the worksheet and the income statement to pre owner's equity. Note this is the first month of operations. Comprehensive Problem instruction Chart of Accounts Labels and Amount Descriptions Income Statement Statement of owners Emuey Balance Sheet 2. Prepare the balance sheet Belee Shrest Question not attempted Score: 0/140 The Generals Favorite Fishing Hole Balance Sheet Assets be 10 11 Liabilities 13 14 Owner's Equity === Points Fad Check My Work First consider what is included in a Balance Sheet. Then use the worksheet and the statement of camera equity to prepar

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Contabilidad Para No Contadores

Authors: Wayne Label

2nd Edition

9587712986, 9789587712988

More Books

Students also viewed these Accounting questions

Question

Explain the difference between and x and between m and x.

Answered: 1 week ago

Question

=+How are the first copy costs and distribution costs comprised?

Answered: 1 week ago