Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 24 Oct 2017 My Price 8.00

owner’s equity for Tech Today.

Use the information in Exercise 2-13 to prepare an August statement of owner’s equity for Tech Today. (The owner invested $84,000 cash in the company during the first week of August.)

 

Exercise 2-13

Dominick Lopez operates a consulting firm called Tech Today. 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.

Cash . . . . . . . . . . . . . . . . . . . . . . . . . $ 8,360 D.

Lopez, Withdrawals . . . . . . . . . $ 3,000

Accounts receivable . . . . . . . . . . . . 17,000

Consulting fees earned . . . . . . . . . 17,000

Office supplies . . . . . . . . . . . . . . . . . 3,250

Rent expense . . . . . . . . . . . . . . . . 4,550 L

and . . . . . . . . . . . . . . . . . . . . . . . . . 46,000

Salaries expense . . . . . . . . . . . . . . 8,000

Office equipment . . . . . . . . . . . . . . 18,000

Telephone expense . . . . . . . . . . . . 560

Accounts payable . . . . . . . . . . . . . . 8,000

Miscellaneous expenses . . . . . . . . 280

D. Lopez, Capital, July 31 . . . . . . . . . 4,000

Owner investments . . . . . . . . . . . 80,000

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Maurice Tutor
(5)
Status NEW Posted 24 Oct 2017 08:10 PM My Price 8.00

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