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Create an income statement

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Question - Guy McKinley started the McKinley Charter Service at the beginning of August 2019. On August 31, 2019, the accounting records of the business showed the following information.

Equipment $18,400

Rent Expense $6,400

Accounts Receivable 2,100

Cash 7,500

Fees Income 36,000

Salaries Expense 12,300

Boats 100,500

Utilities Expense 1,650

Gasoline Expense 9,100

Supplies 5,100

Loans Payable 79,000

Initial Investment 48,500

Owners' Withdrawal 5,100

Accounts Payable 4,650

Required - Create an income statement and a statement of owner's equity for the month and a balance sheet as of August 31, 2019.

Reference no: EM132471886

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