Prepare an october statement of owners equity

Reference no: EM131527850

Question: Use the information in Exercise to prepare an October statement of owner's equity for Real Solutions.

Exercise: On October 1, Natalie King organized Real Solutions, a new consulting firm. On October 31, the company's records show the following items and amounts. Use this information to prepare an October income statement for the business.

Cash . . . . . . . . . . . . . . . . . . . . . $ 2,000 Cash withdrawals by owner . . . . . . . . . $ 3,360

Accounts receivable . . . . . . . . 13,000 Consulting fees earned . . . . . . . . . . . . . 15,000

Office supplies . . . . . . . . . .. . . 4,250 Rent expense . . . . . . . . . . . . . . . . . . . . 2,550

Land . . . . . . . . . . . . . . . . . . . . . 36,000 Salaries expense . . . . . . . . . . . . . . . . . . 6,000

Office equipment . . . . . . . . . . 28,000 Telephone expense . . . . . . . . . . . . . . . . 660

Accounts payable . . . . . . . . . . . 7,500 Miscellaneous expenses . . . . . . . . . . . . 680

Owner investments . . . . . . . . . 74,000

Reference no: EM131527850

Questions Cloud

What is expected return on the portfolio : You own a portfolio that is 30 percent invested in Stock X, 45 percent in Stock Y, and 25 percent in Stock Z. What is the expected return on the portfolio?

Describe how different business functions respond : Identify a range of issues and debates through which to illustrate the impact of the business environment on business activity and evaluate the conceptual categorisation

What are the salient features associated with the case : What are the salient features associated with this case? What is the supervisor's primary responsibility in responding to this behavior?

What is the smallest expected loss for your portfolio : What is the smallest expected loss for your portfolio in the coming month with a probability of 16 percent?

Prepare an october statement of owners equity : On October 1, Natalie King organized Real Solutions, a new consulting firm. On October 31, the company's records show the following items and amounts.

What have you experienced regarding federal employment laws : As an employee, what have you experienced regarding the federal employment laws governing staffing?

What are portfolio weights for portfolio : What are the portfolio weights for a portfolio that has 190 shares of Stock A that sell for $95 per share and 165 shares of Stock B that sell for $126 per share

Proposal to acquire equipment for its manufacturing division : Tate Company is considering a proposal to acquire new equipment for its manufacturing division.

Structure and function of the electoral college : 1. Describe the structure and function of the electoral college.

User Account

All Pages