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Question - Carmen Camry operates a consulting firm called Help Today, which began operations on August 1, On August 31, the company's records show the following accounts and amounts for the month of August.
Cash
$25,360
C. Camry, Withdrawals
$6,000
Accounts receivable
22,360
Consulting fees earned
27,000
Office supplies
5,250
Rent expense
9,550
Land
44,000
Salaries expense
5,600
Office equipment
20,000
Telephone expense
860
Accounts payable
10,500
Miscellaneous expenses
520
Use the above information to prepare an August statement of owner's equity for Help Today. The owner's capital account balance at July 31 was $0, and the owner invested $102,000 cash in the company on August 1.
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