2. On July 31, 2020, the account balances of ABC Co. for the month are listed...

 

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2. On July 31, 2020, the account balances of ABC Co. for the month are listed below. The capital of the owner was Rial 68,000 on July 1, 2020, the beginning of the month. The company was able to generate Rial 45,625 in Net Income for the month of July. Account Name Balance OMR Account Name Balance OMR Accounts Payable 4,375 Operating Expense Office Expense 23,760 Accounts Receivable 8,490 2,470 Cash 13,980 Supplies 9,230 Fees Earned XXX Wages Expense 26,580 Furniture & 56,000 Dividends 28,170 Equipment Computers 2,130 Requirements: a. Present, in good form, (a) an income statement for July, (b) a statement of owner's equity, and (c) a balance sheet as of July 31. (Rubric: 3.5 marks) fovtivate Window 2. On July 31, 2020, the account balances of ABC Co. for the month are listed below. The capital of the owner was Rial 68,000 on July 1, 2020, the beginning of the month. The company was able to generate Rial 45,625 in Net Income for the month of July. Account Name Balance OMR Account Name Balance OMR Accounts Payable 4,375 Operating Expense Office Expense 23,760 Accounts Receivable 8,490 2,470 Cash 13,980 Supplies 9,230 Fees Earned XXX Wages Expense 26,580 Furniture & 56,000 Dividends 28,170 Equipment Computers 2,130 Requirements: a. Present, in good form, (a) an income statement for July, (b) a statement of owner's equity, and (c) a balance sheet as of July 31. (Rubric: 3.5 marks) fovtivate Window