Question

A sole proprietorship was started on January 1, 2013, when it received $30,000 cash from Alex Ard, the owner. During 2013, the company earned $50,000 in cash revenues and paid $22,300 in cash expenses. Ard withdrew $10,000 cash from the business during 2013.

Required
Prepare an income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows for Ard’s 2013 fiscal year.



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  • CreatedOctober 12, 2013
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