Prepare an august statement of owners equity for help today
Question # 00766365
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Updated on: 06/23/2020 11:42 AM Due on: 06/25/2020
Question - Carmen Camry operates a consulting firm called Help Today, which began operations on August 1, On August 31, the company's records show the following accounts and amounts for the month of August.
|
Cash |
$25,360 |
C. Camry, Withdrawals |
$6,000 |
|
Accounts receivable |
22,360 |
Consulting fees earned |
27,000 |
|
Office supplies |
5,250 |
Rent expense |
9,550 |
|
Land |
44,000 |
Salaries expense |
5,600 |
|
Office equipment |
20,000 |
Telephone expense |
860 |
|
Accounts payable |
10,500 |
Miscellaneous expenses |
520 |
Use the above information to prepare an August statement of owner's equity for Help Today. The owner's capital account balance at July 31 was $0, and the owner invested $102,000 cash in the company on August 1.
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