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Category > Management Posted 07 Jul 2017 My Price 11.00

Mary Beth's capital in Beth's Services Company

On May 1, 2007, the amount of Mary Beth's capital in Beth's Services Company was $101,000. During May, she withdrew $15,100 from the business. The amounts of the various assets, liabilities, revenues, and expenses are as follows:

Accounts payable $ 8,900
Accounts receivable 25,950
Cash 11,390
Fees earned 70,800
Insurance expense 1,475
Land 74,400
Miscellaneous expense 1,510
Prepaid insurance 2,000
Rent expense 8,000
Salary expense 35,300
Supplies 950
Supplies expense 825
Utilities expense 3,800
   


Present, in good form, (a) an income statement for May, (b) a statement of owner's equity for May, and (c) a balance sheet as of May 31.

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Maurice Tutor
(5)
Status NEW Posted 07 Jul 2017 12:07 PM My Price 11.00

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