Solved

The Accounts and Balances for Paw Prints Pet Sitters on November

Question 92

Essay

The accounts and balances for Paw Prints Pet Sitters on November 1 are provided below.  Cash 19,450 Fees Income 0 Accounts Receivable 890 Rent Expense 0 Office Equipment 2,300 Utilities Expense 0 Supplies 250 Salaries Expense 0 Accounts Payable 1,400 Kelly Connor, Capital 21,490 Kelly Connor, Drawing 0\begin{array} { l r l } \text { Cash } & 19,450 & \text { Fees Income } &-0-\\\text { Accounts Receivable } & 890 & \text { Rent Expense } &-0-\\\text { Office Equipment } & 2,300 & \text { Utilities Expense }&-0- \\\text { Supplies } & 250 & \text { Salaries Expense }&-0- \\\text { Accounts Payable } & 1,400 & \\\text { Kelly Connor, Capital } & 21,490 & \\\text { Kelly Connor, Drawing } & - 0 - &\end{array} The following transactions occurred during the month of November.
a. Collected $350 from credit customers
b. Issued a check for $700 for rent
c. Paid $1,900 for salaries
d. The owner withdrew $500 in cash for personal expenses
e. Issued a check for $200 to pay the monthly utility bill
f. Received $2,845 in cash for services performed
g. Purchased office equipment for $1,350 on credit
-Using the information shown, prepare an income statement, statement of owner's equity, and balance sheet for Paw Prints Pet Sitters for the month ended November 30, 2013.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions