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+ + Rev. Exp. Rec. + Supp. + Equip. = 2,300 + 5,100 + 33,180 = Pay. 6,300 + Capital 48,500 + . @ +
+ + Rev. Exp. Rec. + Supp. + Equip. = 2,300 + 5,100 + 33,180 = Pay. 6,300 + Capital 48,500 + . @ + 910 918 2,300 + 5,100 + 33,180 = 6,380 + 48,500 + Cash + 14,300 + - 910 13,390 + + 4,910 18,300 + - 1,750 16,550 + + 4,910 4,910 - 2,300 + 5,100 + 33,180 = 48,500 + 910 6,300 + 1,750 4,550 + 48,500 + 910 Balances, May 1 Paid for utilities New balances Sold 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 2,300 + 5,100 + 33,180 + 2,550 4,850 + 5,100 + 33,180 = 4,918 - + 2,550 7,460 - 4,550 + 48,500 + 16,550 + - 8,550 8,eee + - 307 7,693 + 2,300 4,850 + 5,100 + 33,180 = 4,550 + 48, 50e + 7,460 - 910 + 8,550 9,460 + 387 9,767 4,850 + 5,100 + 33,180 = 4,550 + 7,460 48,500 + 2,3ee 46,200 + 5,393 + 4,850 + 5,100 + 33,180 = 4,55e + 7,460 9,767 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. Analyze: In order to complete the balance sheet, which amount was transferred from the statement of owner's equity? Complete this question by entering your answers in the tabs below. Income Stmt of Balance Sheet Statement Owners Eqty Analyze Prepare an income statement for the month of May 31, 20X1. (List the expenses in detail on the income statement.) COTTON CLEANING SERVICE Income Statement Month Ended May 31, 20X1 Revenue Expenses Total expenses 0
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