Jay Lewis decided to start his own rent-a-car business after graduation. Lewis's Rent-a-Car had the following...

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Jay Lewis decided to start his own rent-a-car business after graduation. Lewis's Rent-a-Car had the following ending balances after the first month of operations (November 2019). Ending Balances November 30, 2019 Accounts Payable $ 800 Automobile $ 34,300 Bank Loan $ 17,200 Capital Invested in November $ 20,400 Cash $ 8,300 Interest Expense $ 600 Lewis, Capital, November 1, 2019 $ 0 Lewis, Withdrawals $ 1,200 Maintenance Expense $ 800 Miscellaneous Expense $ 600 Prepaid Insurance $ 2,000 Salaries Expense $ 900 Service Revenue $9,700 Unearned Revenue $ 1,100 Utilities Expense $ 500 Required a) Identify which items will appear on which statement. For each statement, enter the items in alphabetical order. Income Statement Statement of Owner's Equity Balance Sheet Engage For each statement, enter the items in alphabetical order. Income Statement Statement of Owner's Equity Balance Sheet b) Calculate the following values Do not enter dollar signs or commas in the input boxes. Use the negative sign for a net loss. Total Expenses: $ Net Income (Loss): $ Lewis, Capital, November 30, 2019: $ Total Assets: $ Total Liabilities: $ Jay Lewis decided to start his own rent-a-car business after graduation. Lewis's Rent-a-Car had the following ending balances after the first month of operations (November 2019). Ending Balances November 30, 2019 Accounts Payable $ 800 Automobile $ 34,300 Bank Loan $ 17,200 Capital Invested in November $ 20,400 Cash $ 8,300 Interest Expense $ 600 Lewis, Capital, November 1, 2019 $ 0 Lewis, Withdrawals $ 1,200 Maintenance Expense $ 800 Miscellaneous Expense $ 600 Prepaid Insurance $ 2,000 Salaries Expense $ 900 Service Revenue $9,700 Unearned Revenue $ 1,100 Utilities Expense $ 500 Required a) Identify which items will appear on which statement. For each statement, enter the items in alphabetical order. Income Statement Statement of Owner's Equity Balance Sheet Engage For each statement, enter the items in alphabetical order. Income Statement Statement of Owner's Equity Balance Sheet b) Calculate the following values Do not enter dollar signs or commas in the input boxes. Use the negative sign for a net loss. Total Expenses: $ Net Income (Loss): $ Lewis, Capital, November 30, 2019: $ Total Assets: $ Total Liabilities: $

Answer rating: 100% (QA)

Income statement Revenue Service revenue 9700 Cost of goods sold Automobile 34 300 Prepaid insuran... View the full answer