The trial balance as of July 31, 2024, for Sara Simon, Registered Dietician, is presented below.

Requirements 

1. Prepare the income statement for the month ended July 31, 2024. 

2. Prepare the statement of owner’s equity for the month ended July 31, 2024. The beginning balance of Simon, Capital was $0 and the owner contributed $18,000 during the month. 

3. Prepare the balance sheet as of July 31, 2024. 

4. Calculate the debt ratio as of July 31, 2024.

Transcribed Image Text:

SARA SIMON, REGISTERED DIETICIAN Trial Balance July 31, 2024 Account Title Cash Accounts Receivable Office Supplies Prepaid Insurance Equipment Accounts Payable Unearned Revenue Notes Payable Simon, Capital Simon, Withdrawals Service Revenue Salaries Expense Rent Expense Utilities Expense Total Balance Debit $ 38,000 9,000 2,300 2,400 16,000 2,800 1,700 1,100 500 $ 73,800 Credit $ 3,000 3,912 31,000 18,000 17,888 $ 73,800