Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The accounts and balances for Paw Prints Pet Sitters on November 1 are provided below. Cash Accounts Receivable 20,000 Fees Income 920 Rent Expense 3,200
The accounts and balances for Paw Prints Pet Sitters on November 1 are provided below. Cash Accounts Receivable 20,000 Fees Income 920 Rent Expense 3,200 tilities office Equipment 0- Expense Supplies Accounts Payable Kelly Connor Capital Kelly Connor Drawing 320 Salaries Expense0 2,200 22,240 The following transactions occurred during the month of November. a. Collected $420 from credit customers. b. Issued a check for $750 for November's rent c. Paid $1,300 for salaries. d. The owner withdrew $630 in cash for personal expenses. e. Issued a check for $235 to pay the monthly utility bill. f. Received $2,355 in cash for services performed. g. Purchased office equipment for $1,420 on credit. 1. Prepare an income statement for Paw Prints Pet Sitters for month ended November 30, 2019 2. Prepare a statement of owner's 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 Complete this question by entering your answers in the tabs below Income StatementEquity Owners Balance Sheet Prepare an income statement for Paw Prints Pet Sitters for month ended November 30, 2019. (Input all amounts as positive values.) PRINTS PET Income Statement Month Ended r 30, 2019 Revenue Expenses Total expenses Owners Equity> Income Sta The accounts and balances for Paw Prints Pet Sitters on November 1 are provided below. Cash Accounts Receivable 20,000 Fees Incone 0- 920 Rent Expense 3,200 tilities office Equipment 0- Expense Supplies Accounts Payable Kelly Connor Capital Kelly Connor Drawing 320 Salaries Expense0 2,200 22,240 -0 The following transactions occurred during the month of November. a. Collected $420 from credit customers. b. Issued a check for $750 for November's rent c. Paid $1,300 for salaries. d. The owner withdrew $630 in cash for personal expenses. e. Issued a check for $235 to pay the monthly utility bill. f. Received $2,355 in cash for services performed. g. Purchased office equipment for $1,420 on credit. 1. Prepare an income statement for Paw Prints Pet Sitters for month ended November 30, 2019. 2. Prepare a statement of owner's 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 Complete this question by entering your answers in the tabs below Income StatementEquity Owners Balance Sheet Prepare a statement of owner's equity for Paw Prints Pet Sitters for the month end November 30, 2019. (Input all amounts as positive values.) PRINTS PET Statement of Owner's Equity Month Ended November 30, 2019 ne accounts and balances for aw Prints Pet Sitters on November 1 are provided below. Cash Accounts Receivable 20,000 Fees Incone 0- 920 Rent Expense 3,200 tilities office Equipment 0- Expense Supplies Accounts Payable Kelly Connor Capital Kelly Connor Drawing 320 Salaries Expense0 2,200 22,240 -0 The following transactions occurred during the month of November. a. Collected $420 from credit customers. b. Issued a check for $750 for November's rent c. Paid $1,300 for salaries. d. The owner withdrew $630 in cash for personal expenses. e. Issued a check for $235 to pay the monthly utility bill. f. Received $2,355 in cash for services performed. g. Purchased office equipment for $1,420 on credit. 1. Prepare an income statement for Paw Prints Pet Sitters for month ended November 30, 2019. 2. Prepare a statement of owner's 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 Complete this question by entering your answers in the tabs below Income Statement Owners Equity Balance Sheet Prepare a balance sheet for Paw Prints Pet Sitters as of November 30, 2019. (Be sure to list the accounts in order of their liquidity.) PRINTS PET Balance Sheet November 30, 2019 Assets Owner's Equity 0 Total liabilities and Owner's equity Total assets Owners Equity Balance Sheet>
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