Guy McKinley started the McKinley Charter Service at the beginning of August 2019. On August 31, 2019, the accounting records of the business showed the following information.

Prepare an income statement and a statement of owner's equity for the month and a balance sheet as of August 31. 2019.

Prepare a statement of owner's equity for the month of August 31, 2019.

Transcribed Image Text:

Equipment Accounts Receivable Fees Income Boats Gasoline Expense Loans Payable Owners' Withdrawal $ 24,000 2,400 33,000 102,000 8,800 81,500 3,200 Rent Expense Cash Salaries Expense Utilities Expense Supplies Initial Investment Accounts Payable $ 6,100 7,200 12,000 1,800 4,800 50,000 7,800 Complete this question by entering your answers in the tabs below. Income Stmt of Statement Owners Eqty Balance Sheet MCKINLEY CHARTER SERVICE Statement of Owner's Equity Month Ended August 31, 2019 $ 0 이

Answer rating: 100% (QA)

Income Statement Statement of Owner s equity and Balance Sheet is as prepared below Mckinley Charter View the full answer