1. On May 1, B. Bangle opened Self-Wash Laundry. His accountant prepared the following alphabetical list accounts and balances as of May 31, 20--:

   ACCOUNT NAME	BALANCE
   Accounts Payable	7,100
   B. Bangle, Capital	35,000
   B. Bangle, Drawing	800
   Cash	26,525
   Equipment	12,500
   Furniture and Fixtures	1,870
   Laundry Revenue	3,760
   Miscellaneous Expense	280
   Prepaid Insurance	1,560
   Rent Expense	875
   Supplies	225
   Utilities Expense	285
   Wages Expense	940

   All the above accounts have normal balances.

   Question Content Area

   Prepare an income statement for May 31, 20--.

   Self-Wash Laundry Income Statement For Month Ended May 31, 20--

   Revenue:
   Laundry RevenuePrepaid InsuranceRent ExpenseSuppliesUtilities ExpenseWages Expense		$- Select -
   Expenses:
   Accounts PayableB. Bangle, DrawingCashLaundry RevenueSuppliesWages Expense	$- Select -
   B. Bangle, CapitalCashFurniture and FixturesLaundry RevenuePrepaid InsuranceRent Expense	- Select -
   Accounts PayableB. Bangle, CapitalB. Bangle, DrawingCashEquipmentUtilities Expense	- Select -
   EquipmentFurniture and FixturesLaundry RevenueMiscellaneous ExpensePrepaid InsuranceSupplies	- Select -
   Total Expenses		fill in the blank 6114fafcd054059_11
   Accounts PayableAccounts ReceivableCashNet IncomeNet LossOffice Equipment		$- Select -

   Question Content Area

   Prepare a statement of owner's equity for May 31, 20--. If an amount is zero, enter "0".

   Self-Wash Laundry Statement of Owner's Equity For Month Ended May 31, 20--

   B. Bangle, Capital, May 1, 20--B. Bangle, Capital, May 31, 20--Investments during MayNet Income for May		$- Select -
   B. Bangle, Capital, May 1, 20--B. Bangle, Capital, May 31, 20--Investments during MayWithdrawals for May	$- Select -
   Plus B. Bangle, Capital, May 1, 20--Plus B. Bangle, Capital, May 31, 20--Plus CashPlus Net Income for May	- Select -
   Subtotal	$fill in the blank 7a3af9028ffcfa3_7
   B. Bangle, Capital, May 1, 20--B. Bangle, Capital, May 31, 20--Investments during MayWithdrawals for May	- Select -
   B. Bangle, Capital, May 1, 20--B. Bangle, Capital, May 31, 20--Decrease in CapitalIncrease in Capital		- Select -
   B. Bangle, Capital, May 1, 20--B. Bangle, Capital, May 31, 20--Investments during MayNet Income for May		$- Select -

   Question Content Area

   Prepare a balance sheet as of May 31, 20--.

   Self-Wash Laundry Balance Sheet May 31, 20--

   Assets
   B. Bangle, CapitalB. Bangle, DrawingCashLaundry RevenueMiscellaneous ExpenseRent Expense	$- Select -
   Laundry RevenueMiscellaneous ExpenseRent ExpenseSuppliesUtilities ExpenseWages Expense	- Select -
   B. Bangle, DrawingLaundry RevenueMiscellaneous ExpensePrepaid InsuranceRent ExpenseWages Expense	- Select -
   Accounts PayableEquipmentLaundry RevenueRent ExpenseUtilities ExpenseWages Expense	- Select -
   Accounts PayableB. Bangle, CapitalB. Bangle, DrawingFurniture and FixturesMiscellaneous ExpenseRent Expense	- Select -
   Total Assets		$fill in the blank a91c15fa0015f9f_11
   Liabilities
   Accounts PayableB. Bangle, DrawingCashEquipmentLaundry RevenueMiscellaneous Expense		$- Select -
   Owner's Equity
   B. Bangle, CapitalB. Bangle, DrawingPrepaid InsuranceRent ExpenseSuppliesWages Expense		- Select -
   Total Liabilities and Owner's Equity		$fill in the blank a91c15fa0015f9f_16