Question

Driftwood Realty, organized July 1, 2015, is owned and operated by Steffy Owen. The following statements were prepared after its second month of operations.
Instructions
1. List the errors found in the Driftwood Realty financial statements.
2. Prepare an income statement for the month ended August 31, 2015.
3. Prepare a statement of owner’s equity for the month ended August 31, 2015.
4. Prepare a balance sheet as at August 31, 2015.


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  • CreatedSeptember 15, 2015
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