In this exercise, you will create an income statement, statement of owners equity, and balance sheet in
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Question:
In this exercise, you will create an income statement, statement of owner’s equity, and balance sheet in Excel for Dragon, Inc. With the exception of the William Moss, Capital account (the balance for which is from 8/1/2016), the company had the following account balances as of 8/31/2016:
Supplies Expense | $1,800 | Cash | $65,300 |
William Moss, Capital – 8/1/2016 | $73,200 | Sales Revenue | $33,000 |
Land | $20,000 | Accounts Payable | $3,000 |
Accounts Receivable | $1,600 | Equipment | $12,000 |
Utilities Expense | $1,900 | Telephone Expense | $2,000 |
Office Expense | $2,100 | Auto Expense | $4,400 |
Service Revenue | $6,100 | William Moss, Drawing | $4,200 |
Related Book For
Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
Posted Date: