Feline Pet Care Trial Balance July 31, 2020 Account Title Acct.No Debit Credit $ 22,800 11,400 12,300 18,000 101 Cash 106 Accounts receivable Prepaid insurance Equipment Building Land 128 163 173 190,000 183 134,000 Accounts payable Unearned revenue $ 14,240 201 230 91,000 290,760 301 Dwight Turnbul1, capital Dwight Turnbull, withdrawals 302 4,800 401 Revenue 111,900 623 Wages expense Equipment rental expense Advertising expense Pet food expense 56,000 32,000 9,000 17,600 645 655 684 Totals $507,900 $507,900 Required: Using the trial balance provided above, prepare an income statement and statement of changes in equity for the first year ended July 31, 2020, and a balance sheet at July 31, 2020.
Feline Pet Care Trial Balance July 31, 2020 Account Title Acct.No Debit Credit $ 22,800 11,400 12,300 18,000 101 Cash 106 Accounts receivable Prepaid insurance Equipment Building Land 128 163 173 190,000 183 134,000 Accounts payable Unearned revenue $ 14,240 201 230 91,000 290,760 301 Dwight Turnbul1, capital Dwight Turnbull, withdrawals 302 4,800 401 Revenue 111,900 623 Wages expense Equipment rental expense Advertising expense Pet food expense 56,000 32,000 9,000 17,600 645 655 684 Totals $507,900 $507,900 Required: Using the trial balance provided above, prepare an income statement and statement of changes in equity for the first year ended July 31, 2020, and a balance sheet at July 31, 2020.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:Feline Pet Care
Trial Balance
July 31, 2020
Acct.No
Account Title
Debit
Credit
101
Cash
$ 22,800
106
Accounts receivable
Prepaid insurance
Equipment
Building
Land
Accounts payable
Unearned revenue
11,400
12,300
18,000
190,000
134,000
128
163
173
183
201
$ 14, 240
230
91,000
Dwight Turnbull, capital
Dwight Turnbull, withdrawals
301
290,760
302
4,800
401
Revenue
111,900
56,000
32,000
9,000
17,600
623
Wages expense
Equipment rental expense
Advertising expense
Pet food expense
645
655
684
Totals
$507,900 $507,900
Required:
Using the trial balance provided above, prepare an income statement and statement of changes in equity for the first year ended July
31, 2020, and a balance sheet at July 31, 2020.
FELINE PET CARE
Income Statement
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