Reference no: EM132386865
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 8 21,000 Rent Expense S 5,500
Accounts Receivable 3,200 Cash 6,600
Fees Income 31,500 Salaries Expense 11,400
Boats 106,000 Utilities Expense 2,200
Gasoline Expense 8,200 Supplies 4,200
Initial
Loans Payable 80,500 54,000
Investment
Owners' Withdrawal 3,650 Accounts Payable 5,950
Prepare an income statement and a statement of owner's equity for the month and a balance sheet as of August 31.2019.
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