Mike M.

asked • 05/11/21

Help in Solving this question! please and thanks

On March 1, Kate Harbour started Skin Care Co. a company that provides individual skin car treatment to clients. She invested $27,200 cash in the business. Listed below alphabetically are the assets and liabilities of the company at March 31, and the revenues and expenses for the month of March.

Accounts Payable        $1,200             

Gas & Oil expense    $ 800

Accounts Receivable      4,000           

  Notes payable       13,000

Advertising Expense         500            

 Service revenue      6,500

Cash                  12,000           

  Supplies expense      1,200

Supplies                 2,400           

  Utilities expense         300

Equipment              25,000


Kate invested $5,000 additional cash and withdrew $1,500 in cash for personal use during the month of March.

Instructions: Prepare an Income Statement, Statement of Owner’s Equity for the month of March, and a Balance Sheet at March 31, 2020.

Sadik D.

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1 Expert Answer


Vivek R. answered • 05/20/21

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