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mapter 2 Lab 1
27
Problem 2-9A Preparing financial statements from a trial balance LO6
Hipster Optical
Trial Balance
May 31, 2023
Acct. No
Account Title
Debit Credit
101
Cash
$17,800
Ints
106
Accounts receivable
7,780
124
Office supplies
5,700
304:27:20
128
Prepaid insurance
9,120
163
Office equipment
24,900
201
Accounts payable
$ 1,530
230
Unearned service revenue
7,100
301
Peeta Black, capital
55,600
302
Peeta Black, withdrawals
1,410
eBook
403
Services revenue
21,710
623
Wages expense
14,300
640
Rent expense
3,600
690
Utilities expense
1,330
Print
Totals
$85,940 $85,940
References
Required:
Using the trial balance provided above, prepare an income statement and statement of chang
May 31, 2023, and a balance sheet at May 31, 2023.
HIPSTER OPTICAL
Income Statement
For Month Ended May 31, 2023
Revenues:
Services revenue
Unearned service revenue
S
21,710
7,100