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The following is the trial balance for Warren's Painting Services for the year ended May 30, 2021: Warren Painting Services Trial Balance 30-May-21 DEBIT CREDIT
The following is the trial balance for Warren's Painting Services for the year ended May 30, 2021: Warren Painting Services Trial Balance 30-May-21 DEBIT CREDIT Cash $5,800 Accounts receivable 8,000 Supplies 6,500 Prepaid insurance 1,000 Equipment 12,000 Accounts payable $3,000 Unearned revenue 4,800 Notes Payable 15,000 V. Warren, capital 13,000 V. Warren, drawings 10,000 Service revenue 19,300 Salary expense 6,600 Repairs expense 1,300 Insurance expense 2,500 Telephone expense 1,400 Totals $55,100 $55,100 Instructions: Use the trial balance to prepare the following in proper format (e.g. headings): a. Prepare an income statement. (6 marks) b. Prepare a statement of owner's equity. (5 marks) c. Prepare a balance sheet. (9 marks)
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