Problem 2.4A (Algo) Preparing an income statement, a statement of owner's equity, and a balance sheet. LO 2-4, 2-5 The following equation shows the transactions of Hogan Cleaning Service during May. The business is owned by Brecha Hogan. =Liabilities + Accounts Payable 6,100 Particulars. Balances, May 1 Paid for utilities New balances Sald services for cash New balances Paid a creditor New balances Sold services on credit New balances Paid salaries New balances Paid telephone bill New balances. Withdrew cash for personal expenses New balances Cash 14,100 -890 13,210 +4,890 18,100 -1,650 16,450 16,450 -8,450 - Accounts +Receivable + Supplies + Equipment = + 2,100 + 4,900 32,900 = + + + + 8,000 + - 305 7,695 2,100 5,595 + Assets + 2,100 2,100 2,100 +2,450 4,550 4,550 4,550 4,550 + + + + 4,900 4,900 Complete this question by entering your answers in the tabs below. 4,900 4,900 4,900 4,900 4,900 + + + + + + 32,900 32,900 32,900 32,900 32,900 32,900 32,900 = 6,100 6,100 -1,650 4,450 4,450 4,450 4,450 B. Hogan, + Capital + 47,900 Analyze: In order to complete the balance sheet, which amount was transferred from the statement of owner's equity? + + + + + 4,450 + 47,900 47,900 47,900 47,900 47,900 47,900 -2,100 45,800 Owner's Equity + + + + + + + Required: Analyze each transaction carefully. Prepare an income statement and a statement of owner's equity for the month. Prepare a balance sheet for May 31, 20X1. + Revenue 0 0 +4,890 4,890 4,890 +2,450 7,340 7,340 7,340 7,340 1 Expenses 0 +890 890 890 890 890 +8,450 9,340 +305 9,645 9,645

Problem 2.4A (Algo) Preparing an income statement, a statement of owner's equity, and a balance sheet. LO 2.4. 2.5 The following equation shows the transactions of Hogan Cleaning Service during May. The business is owned by Brecha Hogan. Required: Analyze each transoction carefully. Prepore an income statement ond a statement of owner's equity for the month. Prepare a balance sheet for May 3i, 20x1. Analyze: Analyze: In order to complete the balance sheet, which anount was transferred from the statement of owner's equity? Complete this question by entering your answers in the tabs below