Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The accounts and balances for Paw Prints Pet Sitters on November 1 are provided below. Cash 19,550 Fees Income -0- Accounts Receivable 830 Rent Expense

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

Cash 19,550 Fees Income -0-
Accounts Receivable 830 Rent Expense -0-
Office Equipment 2,300 Utilities Expense -0-
Supplies 230 Salaries Expense -0-
Accounts Payable 1,300
Kelly Connor, Capital 21,610
Kelly Connor, Drawing -0-

The following transactions occurred during the month of November.

  1. Collected $330 from credit customers.
  2. Issued a check for $740 for November's rent.
  3. Paid $1,650 for salaries.
  4. The owner withdrew $540 in cash for personal expenses.
  5. Issued a check for $240 to pay the monthly utility bill.
  6. Received $2,715 in cash for services performed.
  7. Purchased office equipment for $1,330 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.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Modern Auditing

Authors: Graham Cosserat

2nd Edition

0470863226, 978-0470863220

More Books

Students also viewed these Accounting questions

Question

Explain how psychologists study health and wellness.

Answered: 1 week ago

Question

16.2 Explain three trends in the labour movement in Canada.

Answered: 1 week ago