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A tabular summary of the transactions for Blossom & Co., an accounting firm, for its...

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Accounting

A tabular summary of the transactions for Blossom & Co., an accounting firm, for its first month of operations, July 2024, follows:
B.
Blossom,
+ Capital
B.
Blossom,
- Drawings + Revenues - E
$20,000
Cash
Accounts
Prepaid
Accounts
+ Receivable + Insurance + Equipment = Payable
1 $18,000
2
3
4
5
6
7
8
9
10
-4,000
-750
3,500
-2,000
-3,000
-800
1,350
-2,900
$2,000
8,000
$4,000
$750
$4,500
-2,000
-1,350
500
$8,000
-$3,000
Prepare an income statement for July.
BLOSSOM & CO.
Income Statement Prepare a statement of owner's equity for July. (List items that increase owner's equity first.)
BLOSSOM & CO.
Statement of Owner's Equity Prepare a statement of owner's equity for July. (List items that increase owner's equity first.)
Prepare a balance sheet at July 31.
BLOSSOM & CO.
Balance Sheet
July 31,2024
Assets
^
$
^
^
$
Liabilities and Owner's Equity

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