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Required information [ The following information applies to the questions displayed below. ] The accounts and balances for Paw Prints Pet Sitters on November 1

Required information

[The following information applies to the questions displayed below.]

The accounts and balances for Paw Prints Pet Sitters on November 1 are provided below.

Cash 19,600 Fees Income -0-
Accounts Receivable 840 Rent Expense -0-
Office Equipment 2,400 Utilities Expense -0-
Supplies 240 Salaries Expense -0-
Accounts Payable 1,400
Kelly Connor, Capital 21,680
Kelly Connor, Drawing -0-

The following transactions occurred during the month of November.

  1. Collected $340 from credit customers.
  2. Issued a check for $750 for November's rent.
  3. Paid $1,700 for salaries.
  4. The owner withdrew $550 in cash for personal expenses.
  5. Issued a check for $250 to pay the monthly utility bill.
  6. Received $2,720 in cash for services performed.
  7. Purchased office equipment for $1,340 on credit
  1. Prepare an income statement for Paw Prints Pet Sitters for month ended November 30, 2019.
  2. Prepare a statement of owners equity for Paw Prints Pet Sitters for the month end November 30, 2019.
  3. Prepare a balance sheet for Paw Prints Pet Sitters as of November 30, 2019.

I have to show the following:

Income Statement- that includes all figures relate to income, with revenue, expenses and the total expenses. Along each of these figures i have to ensure that i am using the proper titling of stated income. Such as $XYZ Amount-Pertains to Accounts payable, Utilities Expense etc...

Owners Equity- this also has to include everything related to the equity the owner has as a result of these transactions.

Balance Sheet- this has to detail all of the assets, liabilities and owners equity, I also need the total in assets, then the total for liabilities and equity.

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