Question: i need help preparring this accural basis income statement and balance sheet. Exercise 4-6 Sandhill Co., a ski tuning and repair shop, opened on November

i need help preparring this accural basis income statement and balance sheet.

i need help preparring this accural basis incomei need help preparring this accural basis incomei need help preparring this accural basis incomei need help preparring this accural basis income
Exercise 4-6 Sandhill Co., a ski tuning and repair shop, opened on November 1, 2016. The company carefully kept track of all its cash receipts and cash payments. The following information is available at the end of the ski season, April 30, 2017. Cash Cash Receipts Payments Issuance of common shares $21,300 Payment to purchase repair shop equipment $9,350 Payments to landlord 1,295 Newspaper advertising payment 335 Utility bill payments 800 Parttime helper's wage payments 2,600 Income tax payment 11,400 Cash receipts from ski and snowboard repair services 30,800 Subtotals 52,100 25,780 Cash balance 26,320 Totals $52,100 $52,100 The repair shop equipment was purchased on November 1 and has an estimated useful life of 5 years. Lease payments to the landlord are made at the beginning of each month. The payments to the landlord included a security deposit of $185. The parttime helper is owed $510 at April 30, 2017, for unpaid wages. At April 30, 2017, customers owe Sandhill Co. $450 for services they have received but have not yet paid for. Prepare an accrualbasis income statement for the 6 months ended April 30, 2017. SAN DHILL CO. Income Statement For the Six Months Ended April 30, 2017 Revenues Service Revenue $ 32130 Expenses Depreciation Expense $ 948 Advertising Expense 315 Utilities Expense 975 Salaries and Wages Expense 3110 Income Tax Expense 11100 Rent Expense 1080 Total Expenses 17528 14602 4|- Net Income / (Loss) Prepare the April 30, 2017, classified balance sheet. (List Current Assets in order of liquidity.) SANDHILL CO. Balance Sheet April 30, 2017 Assets Current Assets|:| 3;: Z Click if you would like to Show Work for this question: Qpen Show Work U UH

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