Prepare balance sheets for burst interiors

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Reference no: EM13535225

Financial information related to the proprietorship of Burst Interiors for March and April

2008 is as follows:

 

March 31, 2008

April 30, 2008

Accounts payable

$18,480

$ 19,920

Accounts receivable

40,800

46,950

Gary Deming, capital

?

?

Cash

72,000

122,400

Supplies

3,600

3,000

a. Prepare balance sheets for Burst Interiors as of March 31 and as of April 30, 2008.

b. Determine the amount of net income for April, assuming that the owner made no additional investments or withdrawals during the month.

c. Determine the amount of net income for April, assuming that the owner made no additional investments but withdrew $15,000 during the month.

Reference no: EM13535225

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