Question: b? Current Attempt in Progress Bonita Russell opened Total Care Services on May 1, 2021. Prepare an income statement statement of owner's equity and a

b?
b? Current Attempt in Progress Bonita Russell opened Total Care Services on
May 1, 2021. Prepare an income statement statement of owner's equity and
a balance sheet for Total Care Services for the month ended, May

Current Attempt in Progress Bonita Russell opened Total Care Services on May 1, 2021. Prepare an income statement statement of owner's equity and a balance sheet for Total Care Services for the month ended, May 31, 2021, using the following accounts in the first month of operations: Cash $1,356 $ 1,360 Accounts Receivable Supplies $ 280 Vehicles $ 2.400 $ 1.840 $ 560 $ 4,640 Equipment Accounts Payable B. Russell, Capital B. Russell, Drawings Service Revenue Fuel Expense Telephone Expense $ 800 $ 2,960 $88 $36 (a) Your Answer Correct Answer (Used) Your answer is partially correct. Prepare the income statement for Total Care Services. TOTAL CARE SERVICES Income Statement Month Ended May 31, 2021 Revenues Service Revenue $ 2960 Expenses Fuel Expense 9 88 i Telephone Expense 36 1 Total Expenses 124 Drawings $ 2836 e Textbook and Media (b) Your answer is partially correct. Prepare the owner's equity statement for Total Care Services. (List items that increase owner's equity first.) TOTAL CARE SERVICES Statement of Owner's Equity Month Ended May 31, 2021 : B. Russell, Capital, May 1, 2021 4640 Add : Profit/(Loss) 2836 Expenses d 7476 Less : Drawings -800 B. Russell, Capital, May 31, 2021 $ $ 6676

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!