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What net change in owner equity occurred

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Reference no: EM133000637

The following account balances are for Carl Nicholson, Certified Public Accountant, as of April 30, 2016.

Cash $30,000

Accounts Receivable 12,000

Maintenance Expense 4,600

Advertising Expense 3,890

Fees Earned 26,800

Carl Nicholson, Capital, April 1 ?

Salaries Expense 13,000

Machinery 21,000

Accounts Payable 13,200

Carl Nicholson, Drawing 6,800

INSTRUCTIONS

Using the accounting equation form, determine the balance for Carl Nicholson, Capital, April 1, 2016. Prepare an income statement for the month of April, a statement of owner's equity, and a balance sheet as of April 30, 2016. List the expenses on the income statement in alphabetical order.

Problem 1: Analyze: What net change in owner's equity occurred during the month of April?

Reference no: EM133000637

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