Question

Wk. 2- Apply: Exercise Saved Required information [The following information applies to the questions displayed below.] The accounts and balances for Paw Prints Pet Sitters on November 1 are provided below. Part 3 of 3 Cash Accounts Receivable Office Equipment Supplies Accounts Payable Kelly Connor, Capital Kelly Connor, Drawing 20,380 Fees Income 980 Rent Expense 3,800 Utilities Expense 380 Salaries Expense 2,800 22,660 points The following transactions occurred during the month of November a. Collected $480 from credit customers. b. Issued a check for $810 for November's rent. c. Paid $1,500 for salaries. d. The owner withdrew $690 in cash for personal expenses. e. Issued a check for $295 to pay the monthly utility bill. f. Received $2,650 in cash for services performed. g. Purchased office equipment for $1,480 on credit. 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

Answer 1

Paw PRINTS PET SITTERS - Income statement Month Ended November 30, 2019 Amount & Amounts Recene Ponticulars Revenue : Fees Income 2650 810 Expenses - Rent Expenses Salaries Expenses Utilities Expenses Supplies 1500 295 390 Total Expenses 2985 operating loss / Not Loss (635)

PAW PRINTS PET SITTERS statement of owners Equity Month Ended November 30, 2019 Particulars Amount Amounted) Kelly Connor, Capital on November ist 22,660 Less: kelly canner, Drawings et dees Not loss from business (690) (335 Kelly Coma, Capital on Novembo 30,2019 21,685 PAW PRINTS PET SITTERS Balance sheet November 30, 2019 1 Assets & Liabilities loffice Equipment 5,280 Accounts Payable 4,280 Accounts Receivable soo cash 20,135 Owner's kelly Cooper copitel 21,635 25,91 25,915

Ledgers Sitters :- In the books of Paw Prints Pet Particulars hopening balance To Accounts receivable To Fees Income Cash AG & Particulars | 20,300 Rent Expenses 480 By scary Expenso 1500 Capital drawings 690 By Utilities Expenses 295 By closing balance od 20,135 23 930 2 3, 430 culars lopening Balance Accounts & 980 Receivable Ale Particulars By Cesh Al by closing balance (hold) $ uso 500 980 980 Particulars opening balance To Accounts Payable office Equipment Ale & Posticulars 3800 1450 by balance camed as 5280 5.80

- Particulars Accounts Payable Ac e & Particulars By Balance (618) 4280 By office Equipment To Balance (c/f 2800. 1980 4280 14280