Question

pls solve exercise 31,32,and 33

Accounting an E1-31 Preparing the income statement Requirements 1. Prepare the income statement for Wilson Towing Service for the month ending! June 30, 2018 2. What does the income statement report? E1-32 Preparing the statement of owner's equity Requirements 1. Prepare the statement of owner's equity for Wilson Towing Service for the month ending June 30, 2018. Assume Wilson contributed $11,000 during June. 2. What does the statement of owner's equity report? E1-33 Preparing the balance sheet Requirements 1. Prepare the balance sheet for Wilson Towing Service as of June 30, 2018. 2. What does the balance sheet report? Use the following information to answer Exercises E1-34 through E1-36. The assets, liabilities, and equities of Damon Design Studio have the following bal ances at December 31, 2018. The owner, Eric Damon, began the year with a $39,000 capital balance, contributed $13,000, and withdrew $57,000 during the year. Notes Payable Rent Expense Cash Office Supplies Salaries Expense Property Tax Expense $ 14,000 Office Furniture 23,000 Utilities Expense 3,200 Accounts Payable 5,100 Service Revenue 65,000 Accounts Receivable 2,200 Miscellaneous Expense $ 48,400 7,200 3,600 154,600 9,300 3,800

this is all i have

Answer 1

MD Income statment is prepared below. 154,600 service Revenue less operating bepenses Rent expenses ottice supplies salary expenses property tax expenses Utilities Expenser miscellaneal expenses Total operating sepenses Met operating Incore ! met Income 23000 sloo Lis000 2,200 7,200 3,800 106300 148300 2 Income statment is used for calculating profit or loss of the organisation it Itales revenue and deduct all expenses to arrive the protit ay lose of the Lorganisation ? B) The statment of owher's Equity is (i) prepared below: cannon stone Reteened na Total: capital (3) Earnings & Opening falance 89000 39ooo Additional 13000 13ooo contribution withdrawals (57000 Met Income 48. 300 48300 Total -sooo 48.300 43, 300 illo uneris Equity is used to calculate the ending balance of stock and retain earning ladditiona capital and Net profit 3 added and withdrawal is deducted.

w © Balance sheet as an December 31, 2018 is as follows: liability Assets corrort liability eument Assets Account payable 3, 600 cash 3200 A clouh payable 9,300 Notes payable 14000 Receivable fixed Assets lounus Equity Toffice furniture 48,400 43300 Total olenerss Equity 160.900 60.900 Bolana is a statment shows the financial position of the business organisation in the form of assets and liabilities. The Rasana sheet is he feet for Shareholders credites lenders and owners to talce the bus) hess decision