Question
Prepare a income statement for the year. The owner did not make any new investments during the year. (Enter negative amounts using either a negative
Prepare a income statement for the year. The owner did not make any new investments during the year.(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
BLOSSOMCOMPANY
Income Statement
choose the accounting period
For the Month Ended July 31, 2020
For the Year Ended July 31, 2020
July 31, 2020
select an opening name for section one
Drawings
Expenses
Net Income / (Loss)
Owner's Capital, August 1, 2019
Owner's Capital, July 31, 2020
Revenues
Total Expenses
Total Revenues
enter an income statement item
$
enter a dollar amount
enter an income statement item
enter a dollar amount
select a closing name for section one
Drawings
Expenses
Net Income / (Loss)
Owner's Capital, August 1, 2019
Owner's Capital, July 31, 2020
Revenues
Total Expenses
Total Revenues
$
enter a total amount for section one
select an opening name for section two
Drawings
Expenses
Net Income / (Loss)
Owner's Capital, August 1, 2019
Owner's Capital, July 31, 2020
Revenues
Total Expenses
Total Revenues
enter an income statement item
$
enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
select a closing name for section two
Drawings
Expenses
Net Income / (Loss)
Owner's Capital, August 1, 2019
Owner's Capital, July 31, 2020
Revenues
Total Expenses
Total Revenues
enter a total amount for section two
select a closing name for this statement
Drawings
Expenses
Net Income / (Loss)
Owner's Capital, August 1, 2019
Owner's Capital, July 31, 2020
Revenues
Total Expenses
Total Revenues
$
enter a total net income or loss amount
eTextbook and Media
Solution
List of Accounts
Attempts: 3 of 3 used
(a2)
Prepare an owner's equity statement for the year.
BLOSSOMCOMPANY
Owner's Equity Statement
choose the accounting period
July 31, 2020
For the Year Ended July 31, 2020
For the Month Ended July 31, 2020
select an opening name
Drawings
Expenses
Net Income / (Loss)
Owner's Capital, August 1, 2019
Owner's Capital, July 31, 2020
Revenues
Total Expenses
Total Revenues
$
enter a dollar amount
select between addition and deduction
Add
Less
:select an item
Drawings
Expenses
Net Income / (Loss)
Owner's Capital, August 1, 2019
Owner's Capital, July 31, 2020
Revenues
Total Expenses
Total Revenues
$
enter a dollar amount
select an item
Drawings
Expenses
Net Income / (Loss)
Owner's Capital, August 1, 2019
Owner's Capital, July 31, 2020
Revenues
Total Expenses
Total Revenues
enter a dollar amount
enter a subtotal of the two previous amounts
select a closing name
Drawings
Expenses
Net Income / (Loss)
Owner's Capital, August 1, 2019
Owner's Capital, July 31, 2020
Revenues
Total Expenses
Total Revenues
$
enter a total amount
eTextbook and Media
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Understanding Financial Accounting
Authors: Christopher D. Burnley
2nd Canadian Edition
1119406927, 978-1119406921
