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Net Income and Change in Owner's Equity Wilhelm Kohl started a business in May 20--...

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Accounting

Net Income and Change in Owner's Equity Wilhelm Kohl started a business in May 20-- called Kohl's Home Repair. The trial balance showing balances for the month of May are shown. Kohl's Home Repair Trial Balance May 31, 20-- Cash Account Accounts Receivable Office Supplies Prepaid Insurance Equipment Van Accounts Payable Wilhelm Kohl, Capital Wilhelm Kohl, Drawing Service Fees Rent Expense Wages Expense Phone Expense Gas and Oil Expense Check My Work Credit Debit Balance Balance 21,040 2,400 100 1,200 7,000 9,000 3,000 800 800 100 160 3,000 30,000 12,600
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Net Income and Change in Owner's Equity. Withelm Kohl started a business in May 20 - called Kohl's Home Pepair. The trial balance showing balances for the month of May are shown. Required: Determine the following information. Use the format provided below. b. End of month accounting equation

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