Business, 16.07.2020 19:01 kawaiiblurainbow

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. Use this information to prepare an August income statement for the business. You will prepare financial statements - income statement, statement of owner's equity and balance sheet. Download this template and upload to this dropbox when completed. 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
1. 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.
2. prepare an August 31 balance sheet for Help Today. (Hint: Compute the owner’s capital account balance as of August 31.)

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Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On Au...

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