Feline Pet CareTrial BalanceJuly 31, 2020Acct.NoAccount TitleDebitCredit101Cash$ 22,800106Accounts receivablePrepaid insuranceEquipmentBuildingLandAccounts payableUnearned revenue11,40012,30018,000190,000134,000128163173183201$ 14, 24023091,000Dwight Turnbull, capitalDwight Turnbull, withdrawals301290,7603024,800401Revenue111,90056,00032,0009,00017,600623Wages expenseEquipment rental expenseAdvertising expensePet food expense645655684Totals$507,900 $507,900Required:Using the trial balance provided above, prepare an income statement and statement of changes in equity for the first year ended July31, 2020, and a balance sheet at July 31, 2020.FELINE PET CAREIncome Statement

Introduction: Income statement: All revenues and expenses are shown in income statement. It tells…

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.

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter12: Liabilities: Off-balance-sheet Financing, Retirement Benefits, And Income Taxes

Section: Chapter Questions

Problem 22E

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