Question
Prepare an income statement using the following information for DL Enterprises for the month of July 2018. Sales revenue $64,000 Rental revenue 15,300 Product expense
Prepare an income statement using the following information for DL Enterprises for the month of July 2018.
| Sales revenue | $64,000 |
| Rental revenue | 15,300 |
| Product expense | 52,400 |
| Wages expense | 18,800 |
| Owner investment | 12,000 |
| Equipment purchases | 56,000 |
| Utilities expense | 1,800 |
| Taxes expense | 500 |
| DL Enterprises | ||
| Income Statement | ||
| For the Month Ended July 31, 2018 | ||
| Revenue: |
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| $ | |
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| Total Revenue | $ | |
| Expenses: | ||
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| $ | |
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| Total Expenses |
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| Net Income | $ | |
5. Prepare a statement of owners equity using the information provided for Pirate Landing for the month of October 2018.
| Cash | $14,000 |
| Pirate Pete, Capital Oct. 1 | 58,000 |
| Net loss Oct. 2018 | 7,500 |
| Owner investments | 1,500 |
| Wages payable | 3,000 |
| Supplies expense | 1,500 |
| Owner withdrawals | 100 |
| Pirate Landing | ||
| Statement of Owners Equity | ||
| For the Month Ended October 31, 2018 | ||
| Pirate Pete, Capital Oct. 1 | $ | |
| Increases: | ||
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| $ | |
| Total Increases |
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| Decreases: | ||
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| $ | |
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| Total Decreases |
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| Pirate Pete, Capital October 31 | $ | |
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