Question
Trial Balance and Financial Statements The following account balances were prepared (out of order) from the general ledger of The Cat Whisperer, Inc. of January
Trial Balance and Financial Statements
The following account balances were prepared (out of order) from the general ledger of The Cat Whisperer, Inc. of January 31. The company trains cats having behavioral problems. The firm's accounting year began on January 1. All accounts have normal balances.
Required a. Prepare a trial balance from the given data. b. Prepare an income statement for the month of January. c. Prepare a statement of stockholders' equity for the month of January. d. Prepare a balance sheet as of January 31.
Note: Do not use negative signs with your answers, unless otherwise noted (such as Dividends).
Facilities Maintenance Expense Supplies Advertising Expense Common Stock Cash Accounts Payable $32,000 Office Rent Expense $800 460 Supplies Expense 1,760 1,640 Utilities Expense 200 550 Fees Earned 20,470 37,600 Accounts Receivable 8,200 7,300 Salaries Expense 4,480 1,420 Dividends 2,100 Credit 0 0 0 0 0 0 0 THE CAT WHISPERER, INC. Trial Balance January 31 Debit Cash $ 0 $ Accounts Receivable 0 Supplies 0 Facilities 0 Accounts Payable 0 Common Stock 0 Dividends 0 Fees Earned 0 Maintenance Expense 0 Advertising Expense Office Rent Expense 0 Supplies Expense 0 Utilities Expense 0 Salaries Expense 0 Totals 0 $ 0 0 0 0 0 0 0 0 0 0 0 $ 0 0 THE CAT WHISPERER, INC. Income Statement For the Month Ended January 31 Revenue Fees Earned $ Expenses Maintenance Expense $ 0 Advertising Expense 0 Office Rent Expense 0 Supplies Expense 0 Utilities Expense Salaries Expense Total Expenses Net Income $ 0 0 0 0 0 Total 0 THE CAT WHISPERER, INC. Statement of Stockholders' Equity For the Month Ended January 31 Common Stock Retained Earnings Balance, January 1 $ 0 $ 0 $ Add: Capital contributed Add: Net Income Less: Dividends paid(enter as a negative) Balance, January 31 0 $ 0 0 0 0 0 0 0 0 0 $ $ 0 $ 0 THE CAT WHISPERER, INC. Balance Sheet January 31 Liabilities 0 Total Liabilities Assets $ 0 > 0 0 0 Supplies Total Current Assets 0 Stockholders' Equity 0 > O Olo Total Stockholders' Equity 0 Total Liabilities and Stockholders' Equity $ Total Assets $ 0Step by Step Solution
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