Saved Homework Required informetion The following information applies to the que
ID: 2336254 • Letter: S
Question
Saved Homework Required informetion The following information applies to the questions disp/ayed below) 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 s 27,010 9,570 5,620 s25,370 Consulting fees earned Cash Accounts receívable Office suppltes Land Office equlpment Accounts payable 22,370 Rent expense ,260 Salaries expense 44,010 Telephone expense 20,020 Niscellaneous expenses 12,540 Carmon st.ock 102,100 Dividends 6,020 Use the above information to prepare an August 31 balance sheet for Help Today (Hint The ending retained earnings acco as of August 31 is $4,390) Balance Sheet 4,390Explanation / Answer
Answers
BALANCE SHEET
ASSETS
LIABILITIES
Cash
$ 25,370.00
Accounts Payable
$ 10,540.00
Accounts receivables
$ 22,370.00
Office Supplies
$ 5,260.00
Total Current Assets
$ 53,000.00
Total Liabilities
$ 10,540.00
STOCKHOLDDER's EQUITY
Land
$ 44,010.00
Common Stock
$ 102,100.00
Office Equipments
$ 20,020.00
Retained Earnings [Use Hint]
$ 4,390.00
Total Plant Property & Equipment
$ 64,030.00
Total Stockholder's Equity
$ 106,490.00
Total Assets
$ 117,030.00
Total Liabilities & Stockholder's Equity
$ 117,030.00
BALANCE SHEET
ASSETS
LIABILITIES
Cash
$ 25,370.00
Accounts Payable
$ 10,540.00
Accounts receivables
$ 22,370.00
Office Supplies
$ 5,260.00
Total Current Assets
$ 53,000.00
Total Liabilities
$ 10,540.00
STOCKHOLDDER's EQUITY
Land
$ 44,010.00
Common Stock
$ 102,100.00
Office Equipments
$ 20,020.00
Retained Earnings [Use Hint]
$ 4,390.00
Total Plant Property & Equipment
$ 64,030.00
Total Stockholder's Equity
$ 106,490.00
Total Assets
$ 117,030.00
Total Liabilities & Stockholder's Equity
$ 117,030.00
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