Required information SB Problem [The following information applies to the questi

Question

Required information SB Problem [The following information applies to the questions displayed below) The accounts and balances for Paw Prints Pet Sitters on November 1 are provided below. Cash Accounts Receivable 890 Rent Expense office Equipment Supplies Accounts Payable Kelly Connor, capita122,030 Kelly Connor, Drawing 19,850 Fees Income 2,900 Utilities Expense -0 290 Salaries Expense -0- 1,900 The fllowing transactions occurred during the month of November a. Collected $390 from credit customers. b. Issued a check for $720 for November's rent. c. Paid $1,800 for salaries d. The owner withdrew $600 in c e. Issued a check for $210 to pay the monthly utility bill. f. Received $2,745 in cash for services performed g. Purchased office equipment for $1.390 on credit. personal expenses Problem 3-102 The accounts and balances for Paw Prints.. 1. Prepare an income statement for Paw Prints Pet Sitters for month ended November 30, 2019 2. Prepare a statement of owner's equity for Paw Prints Pet Sitters for the month end November 30, 2019 3. Prepare a balance sheet for Paw Prints Pet Sitters as of November 30, 2019. Complete this question by entering your answers in the tabs below Income Statement Owners Equity Balance Sheet Prepare an income statement for Paw Prints Pet Sitters for month ended November 30, 2019. (Input all amounts values.)

Explanation / Answer

PAW PRINT PET SITTERS Trial Balance Nov 30, 2019 Trial Balance Debit Credit Balance Sheet Accounts: Cash      19,655.00 Accounts Receivable            500.00 Supplies            290.00 Office Equipment        4,290.00 Accumulated Dep. - Office Equip. Accounts Payable        3,290.00 Kelly Konor, Capital      22,030.00 Kelly Konor, Drawings            600.00 Fees Income        2,745.00 Rent Expense            720.00 Utilities Expense            210.00 Salaries Expense        1,800.00 Total      28,065.00      28,065.00 Answer 1. PAW PRINT PET SITTERS Income Statement For Month Ended Nov 30, 2019 Revenues Fees Income        2,745.00 Expenses Rent Expense            720.00 Utilities Expense            210.00 Salaries Expense        1,800.00        2,730.00 Net Income              15.00 Answer 2. PAW PRINT PET SITTERS Statement of Owners' Equity For Month Ended Nov 30, 2019 Beginning Balance, Nov 1, 2019      22,030.00 Kelly Konor, Drawings          (600.00) Net Income              15.00 Net Increase (Decrease) in Equity          (585.00) Ending Balance, Nov 30, 2019      21,445.00 Answer 3. PAW PRINT PET SITTERS Balance Sheet Nov 30, 2019 Assets Liabilities Current Assets Current Liabilities Cash    19,655.00 Accounts Payable      3,290.00 Accounts Receivable          500.00 Supplies          290.00 Owner's Equity Kelly Konor, Capital    21,445.00 Property, Plant & Equipment Office Equipment      4,290.00 Total Assets    24,735.00 Total Liabilities & Owners' Equity    24,735.00

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