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
What is Acid-test ratio A measurement of the capability of a business to meet its short-term commitments. It is considered by dividing excluding stock, current assets, by curre

Horton Co. was organized on January 2, 2010, with 500,000 authorized shares of $10 par value common stock. During 2010, Horton had the following capital transactions: January 5-iss

following are the amounts of the assets and liabilities of St. Kitts Travel Agency at December 31, 2010, the end of the current year, and its revenue and expenses for the year. The

RSC Designs quarterly selling and distribution expenses are $100,000 including ($10,000 depreciation), and are expected to be paid in the quarter incurred. Quarterly administrat


DIVISIBLE PROPERTY The property of the bankrupt divisible among creditors includes: Property belonging to the bankrupt at the commencement of the bankruptcy; Property ac

2 Individual Research Assignment This assignment is an individual assessment. The research and written submission should therefore be your own work. You will need to submit this as

Question: The following data are obtained from the record of a factory:                                                        £                   £ Sales 4,000 units @ £2

Illustration of consolidated balance sheet H Ltd owned S Ltd since the date of incorporation of S Ltd. The balance sheets of the two  companies as at 31 December 20X2 is as fo

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