Question: 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


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 7,470 Accounts Payable B. Bangle, Capital 45,000 B. Bangle, Drawing 1,520 Cash 28,720 Equipment 20,000 2,360 Furniture and Fixtures Laundry Revenue 6,270 Miscellaneous Expense 450 Prepaid Insurance 2,190 Rent Expense 1,190 Supplies 700 Utilities Expense 300 Wages Expense 1,310 All the above accounts have normal balances. Prepare an income statement for May 31, 20--- Self-Wash Laundry Income Statement For Month Ended May 31, 20-- Revenue: Expenses: Total Expenses Prepare a statement of owner's equity for May 31, 20--. If an amount is zero, enter Self-Wash Laundry Statement of Owner's Equity For Month Ended May 31, 20-- Subtotal Prepare a balance sheet as of May 31, 20--- Self-Wash Laundry Balance Sheet May 31, 20-- Assets Total Assets Liabilities Owner's Equity Total Liabilities and Owner's Equity
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