Balance Sheet

Assignment Details Assignment Description From the following information, prepare an Income Statement, Statement of Owner’s Equity, and Balance Sheet for the month of May of the current year.

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Cash

Accounts Receivable

Equipment
Notes Payable
Accounts Payable
S. Jones, Capital
S. Jones, Drawing
Service Revenue

Telephone Expense

Rent Expense
Advertising Expense
$12,000
16,000
350
16,500
550
350
1,100
$13,000
12,000
18,000
6,000

$49,000

$49,000

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