Statement of owner''s equity , Financial Accounting

Prepare an income statement and statement of owner's equity  (month ended Mar,31 1995)
Auto remair fee earned            37,300
Salaries Expense                    11500
Repair parts Expense              7400
Paint Expense                        6300
Insurance Expense                 4700
Utilities Expense                    1570

Required:
Prepare an income statement for the month ended Mar 31 1995.

Assume that on Mar, 1, 1995, company had a balance of 6250 in his capital amount and that on Mar 10 he invested another 1500. Further more on Mar 23, 500 were withdrew from business. Prepare an income statement of Owner's Equity.

Posted Date: 3/15/2013 5:14:49 AM | Location : United States







Related Discussions:- Statement of owner''s equity , Assignment Help, Ask Question on Statement of owner''s equity , Get Answer, Expert's Help, Statement of owner''s equity Discussions

Write discussion on Statement of owner''s equity
Your posts are moderated
Related Questions
A company presently pays a dividend of $2 per share, D0 = 2. It is estimated that the company's dividend will enhance at a rate of 17% percent per year for the next 2 years, then t

Individuals commonly prefer possession of cash immediately or in the present moment quite than the same amount at any time in the future. Such time preference is fundamentally due

definition of cost of control

48 Morgado Inc. has provided the following data to be used in evaluating a proposed investment project: Initial investment $130,000 Annual cash receipts $78,000 Life of th

TERMINATION OF APPOINTMENTS A trustee may cease to hold office in the following ways: (a) Disclaimer : At any time before acceptance of the trusts. (b) Retirement : Eith

Prepare a master budget You have just been hired as a new management trainee by XYZ Limited, a distributor of earrings to various retail outlets located in shopping malls acro

You are considering whether to replace an existing flow meter in an ongoing operation. A change in the meter will have not affect revenues but will reduce costs. The existing meter

On April 10, ABC inc. Enters in a swap contract for 10 years with a chartered bank to turn a fixed rate on liability of $150 million to floating rate. ABC wants to receive interest

Define Accruals or accrued charges What are Accruals or accrued charges - Expenses that are done for the current accounting period which have not yet been paid. These are someti

USAco is the wholly-owned U.S. subsidiary of ASIAco, a Japanese parent corporation that manufactures automobiles and sells them to USAco for resale in the United States. ASIAco sel