Hipster Optical Tral Balance May 31, 2017 Debit 19,100 9.080 Acct No Account Title Credt Cash...

Transcribed Image Text:

Hipster Optical Tral Balance May 31, 2017 Debit 19,100 9.080 Acct No Account Title Credt Cash 101 106 Accounts receivable Office supplies Prepaid insurance Ofice equipment 7,000 10,420 26,200 124 128 163 201 Accounts payable Unearned service revenue 1,660 8.400 56,900 230 Peeta Black, capital Peeta Black, withdrawals Services revenue Wages expense Rent expense Utities expense 301 302 1,540 28.340 403 623 15,600 4,900 1,460 640 690 Totals 95,300 S 95,300 Required: Using the trial balance provided above, prepare an income statement and statement of changes in equity for the first month ended 2017, and a balance sheet at May 31. 2017. HIPSTER OPTICAL Income Statement For Month Ended May 31, 2017 Revenues: Operating expenses Total operating expenses Hipster Optical Tral Balance May 31, 2017 Debit 19,100 9.080 Acct No Account Title Credt Cash 101 106 Accounts receivable Office supplies Prepaid insurance Ofice equipment 7,000 10,420 26,200 124 128 163 201 Accounts payable Unearned service revenue 1,660 8.400 56,900 230 Peeta Black, capital Peeta Black, withdrawals Services revenue Wages expense Rent expense Utities expense 301 302 1,540 28.340 403 623 15,600 4,900 1,460 640 690 Totals 95,300 S 95,300 Required: Using the trial balance provided above, prepare an income statement and statement of changes in equity for the first month ended 2017, and a balance sheet at May 31. 2017. HIPSTER OPTICAL Income Statement For Month Ended May 31, 2017 Revenues: Operating expenses Total operating expenses

Answer rating: 100% (QA)

Solution Hipster Optical Income Statement For month ended May 31 2017 Particulars Amo... View the full answer