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Present in good form an income statement for may

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Reference no: EM13858841

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.

 

Reference no: EM13858841

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