Financial Statements 1.  Prepare an income statement for Kohl's Home Repair for the month ended May 31, 20--. 2.  Prepare a statement of owner's equity for Kohl's Home Repair for the month ended May 31, 20--. If an amount box does not require an entry, leave it blank or enter "0". 3.  Prepare a balance sheet for Kohl's Home Repair as of May 31, 20--. Wilhelm Kohl started a business in May 20-- called Kohl's Home Repair. Kohl hired a part-time college student as an assistant. On May 31, 20--, the ledger balances for Kohl's Home Repair were as follows: Accounts Balance Accounts Payable $ 4,024 Accounts Receivable   2,990 Cash   21,750 Equipment   8,160 Gas and Oil Expense   138 Wilhelm Kohl, Capital   25,165 Wilhelm Kohl, Drawing   2,807 Office Supplies   117 Prepaid Insurance   1,082 Rent Expense   897 Service Fees   15,792 Phone Expense   262 Van   6,019 Wages Expense   759   Income Statement     1.  Prepare an income statement for Kohl's Home Repair for the month ended May 31, 20--. Kohl's Home Repair Income Statement For Month Ended May 31, 20-- Revenue:      Accounts payable    $fill in the blank ad9cf2ff0ff2fd5_3 Liabilities:      Office supplies  $fill in the blank ad9cf2ff0ff2fd5_6     fill in the blank ad9cf2ff0ff2fd5_8     fill in the blank ad9cf2ff0ff2fd5_10     fill in the blank ad9cf2ff0ff2fd5_12   Total expenses   fill in the blank ad9cf2ff0ff2fd5_13     $fill in the blank ad9cf2ff0ff2fd5_15   Feedback   Income Statement Revenues – Expenses = Net Income or Net Loss   Statement of Owner's Equity     2.  Prepare a statement of owner's equity for Kohl's Home Repair for the month ended May 31, 20--. If an amount box does not require an entry, leave it blank or enter "0". Kohl's Home Repair Statement of Owner's Equity For Month Ended May 31, 20--     $fill in the blank a6a3cf030fee05b_2     fill in the blank a6a3cf030fee05b_4 Total investment   $fill in the blank a6a3cf030fee05b_5   $fill in the blank a6a3cf030fee05b_7     fill in the blank a6a3cf030fee05b_9       fill in the blank a6a3cf030fee05b_11     $fill in the blank a6a3cf030fee05b_13   Feedback   Statement of Owner's Equity Beginning capital Additional investments Total investment Net income Less Withdrawals Increase or decrease in capital Ending capital   Refer to Figure 3-23 in the text.   Balance Sheet     3.  Prepare a balance sheet for Kohl's Home Repair as of May 31, 20--. Kohl's Home Repair Balance Sheet May 31, 20-- Assets   Liabilities     $fill in the blank 8eed2c078f9603d_2   $fill in the blank 8eed2c078f9603d_4   fill in the blank 8eed2c078f9603d_6       fill in the blank 8eed2c078f9603d_8       fill in the blank 8eed2c078f9603d_10       fill in the blank 8eed2c078f9603d_12 Owner's Equity     fill in the blank 8eed2c078f9603d_14   fill in the blank 8eed2c078f9603d_16 Total assets $fill in the blank 8eed2c078f9603d_17 Total liabilities & owner's equity $fill in the blank 8eed2c078f9603d_18

Journal entry worksheet The Krug Company collected $16,200 rent in advance on November 1, debiting Cash and crediting Unearned Rent Revenue. The tenant was paying 12 months’ rent in advance and occupancy began November 1. Note: Enter debits before credits. Transaction General Journal Debit Credit a.

Purchased equitment with $6,000 cash. What accounts does this go into in the journal?

Complete the General Ledger based on the recorded journal entries.  Remember to: write the date, explanation, and fill out the value in the corresponding DR or CR column. Your explanation should only contain the other account names as per your journal entries, separated by a "/" where necessary.

Prepare journal entered for the attached transactions

A credit records financial informati. A. January 22, purchased, an asset, merchandise inventory on account for $2,800. EA7. Prepare journal entries to record the following transactions. will increase and the other side will- the terms debit and credit representedi- by calculating the difference between ectively. Depending on the acc 1. January 22, purchased, an asset merchandise inventory on account for $2,800. B. February 10, paid creditor for part of January 22 purchase, $1,600 C. July 1, issued common stock for cash, $15,000 D. July 15, purchased supplies, on account, $1,800 E. July 25, billed customer for accounting services provided, $950 BAT. Prepare journal entries to record the following transactions.

Record the following transactions for the Scott Company: Transactions: Nov. 4 Received a $6,500, 90-day, 6% note from Tim’s Co. in payment of the account. Dec. 31 Accrued interest on the Tim’s Co. note. Feb. 2 Received the amount due from Tim’s Co. on the note.   Required:   Journalize the above transactions. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to two decimal places. Assume a 360-day year when calculating interest. CHART OF ACCOUNTS Scott Company General Ledger   ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable-Batson Co. 122 Accounts Receivable-Bynum Co. 123 Accounts Receivable-Calahan Inc. 124 Accounts Receivable-Dodger Co. 125 Accounts Receivable-Fronk Co. 126 Accounts Receivable-Miracle Chemical 127 Accounts Receivable-Solo Co. 128 Accounts Receivable-Tim’s Co. 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable-Tim’s Co. 141…