On May 1, 2023, Shawna Cameron organized a new company called XYZ Corporation. On the last day of that month, the company's records showed the items listed below. Use this information to prepare the May income statement and statement of changes in equity as well as the balance sheet at May 31 for XYZ Corporat Balance) Complete the income statement using the format provided. 78,000 (select one) 72,000 Income Statement 56.000 (select one) Account Accounts payable Accounts receivable Advertising expense Consulting revenue earned Dividends Equipment Insurance expense Interest earned Interest payable Notes receivable Office supplies expense Property taxes payable Rent eamed, Share capital Supplies Usities expense, 198,500 37,500 x 157,500 26,000 46,500 36,500 177,500 77,500 32.000 171,500 159.500 43,500 75.000 Revenues Total revenues Expenses Total expenses b) Complete the statement of changes in equity using the format provided. (select one) Statement of Changes in Equity (select one) www. KANN c) Complete the Balance Sheet X Assets Total assets Share Retained Total Capital Eamings Equity (select one) Balance Sheet (select one) x. Liabilities Total liabilities Equity THLAND

On May 1, 2023, Shawna Cameron organized a new company called XYZ Corporation. On the last day of that month, the company's records showed the items listed below. Use this information to prepare the May income statement and statement of changes in equity as well as the balance sheet at May 31 for XYZ Corporat Balance) Complete the income statement using the format provided. 78,000 (select one) 72,000 Income Statement 56.000 (select one) Account Accounts payable Accounts receivable Advertising expense Consulting revenue earned Dividends Equipment Insurance expense Interest earned Interest payable Notes receivable Office supplies expense Property taxes payable Rent eamed, Share capital Supplies Usities expense, 198,500 37,500 x 157,500 26,000 46,500 36,500 177,500 77,500 32.000 171,500 159.500 43,500 75.000 Revenues Total revenues Expenses Total expenses b) Complete the statement of changes in equity using the format provided. (select one) Statement of Changes in Equity (select one) www. KANN c) Complete the Balance Sheet X Assets Total assets Share Retained Total Capital Eamings Equity (select one) Balance Sheet (select one) x. Liabilities Total liabilities Equity THLAND

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Description: On May 1, 2023, Shawna Cameron organized a new company called XYZ Corporation. On the last day of that month, the company's records showed the items listed below. Use this information to prepare the May income statement and statement of changes in e

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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