Reference no: EM132565782

The balance sheet of Andy Goodhew Company as of September 30, 1994, was as follows:

ANDY GOODHEW COMPANY

Balance Sheet

September 30, 1994

Assets

Cash ------------------------------------------$136,000

Accounts receivable ------------------------12,000

Total assets ----------------------------------$148,000

Liabilities and Owner's Equity

Liabilities:

Accounts payable---------------------------- $36,000

Owner's Equity:

Andy Goodhew, Capital ----------------------$112,000

Total liabilities and owner's equity ------------$148,000

The company engaged in the following transactions in October 1994:

Oct. 1 The account payable owed as of September 30 ($36,000) was paid.

2 The company paid rent for October, $12,800.

7 The company received cash from a customer for services performed.

10 The company collected $10,000 accounts receivable.

14 Cash received from a customer for services performed.

15 Revenue earned but not yet collected from a customer was $2,000.

16 The company paid salaries of $2,000 for October 1 - 15.

19 The company paid advertising expenses of $800 for October.

21 Cash received from a customer for services performed, $6,000.

24 The company incurred miscellaneous expenses of $560 for various items and services provided by a supplier. The bill will be paid November 10.

31 Cash received from a customer for services performed, $5,600.

31 The company paid salaries of $2,000 for October 16 - 31.

31 A customer was sent a bill for $14,400 for services provided in October.

Required 

Question a. a summary of the above transactions.

Question b. an income statement for October 1994.

Question c. a statement of owner's equity for October 1994.

Question d. a balance sheet as of October 31, 1994.