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E$3-20($Algo$)$ Analyzing, Recording, and Evaluating the Effects of Income Statement Transactions $[$LO $3-3,$ LO $3-4,$ LO $3-5]$

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MyBnB started a home rental company on January $1.$ As of November $30,$ MyBnB reported the following balances. The company does not yet have a balance in Retained Earnings because this is its first year of operations so no net income has been reported in prior years.

Accounts Payable $ $720$ Equipment $ $5,760$

Cash $2,400$ Repairs Expense $480$

Cleaning Expense $2,160$ Service Revenue $4,800$

Common Stock $7,200$ Wages Expense $1,920$

E$3-20($Algo$)$ Part $5$

$5.$ Prepare an unadjusted trial balance, a preliminary income statement, statement of retained earnings, and classified balance sheet as of and for the year ended December $31$ using the December transactions listed below.

Provided rental services at a price of $$720$ and collected the full amount in cash.

Paid $$168$ cash to a cleaning company for December work.

Paid $$144$ cash to MyBnB$$s part$-$time employee for December wages.

Paid $$240$ cash on account for amounts owed from a prior equipment purchase.

Obtained repair services in December at a cost of $$96,$ to be paid in January.