On May 1, 2022, the amount of Jackson Samuel’s capital in Jackson Services Company was $101,000. During May, he withdrew $15,100 from the business. The amounts of the various assets, liabilities, revenues, and expenses are as follows: Accounts payable $ 8,900 Accounts receivable 27,950 Cash 11,390 Fees earned 73,800 Insurance expense 1,475 Land 74,400 Miscellaneous expense 1,510 Prepaid insurance 2,000 Rent expense 6,000 Salary expense 35,300 Supplies 3,950 Supplies expense 825 Utilities expense 3,800 Present, in good form, including complete titles, (a) an income statement for May, (b) a statement of owner's equity for May, and (c) a balance sheet as of May 31. (a) Income Statement (b) Statement of Owner’s Equity (c) Balance Sheet
On May 1, 2022, the amount of Jackson Samuel’s capital in Jackson Services Company was $101,000. During May, he withdrew $15,100 from the business. The amounts of the various assets, liabilities, revenues, and expenses are as follows:
|
Accounts payable |
$ 8,900 |
|
|
27,950 |
|
Cash |
11,390 |
|
Fees earned |
73,800 |
|
Insurance expense |
1,475 |
|
Land |
74,400 |
|
Miscellaneous expense |
1,510 |
|
Prepaid insurance |
2,000 |
|
Rent expense |
6,000 |
|
Salary expense |
35,300 |
|
Supplies |
3,950 |
|
Supplies expense |
825 |
|
Utilities expense |
3,800 |
Present, in good form, including complete titles, (a) an income statement for May, (b) a statement of owner's equity for May, and (c) a
|
(a) Income Statement |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(b) Statement of Owner’s Equity |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(c) Balance Sheet |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 3 images
