Question

The following account balances are for Carl Nicholson, Certified Public Accountant, as of April 30, 2016.
Cash ................ $30,000
Accounts Receivable ......... 12,000
Maintenance Expense ......... 4,600
Advertising Expense .......... 3,890
Fees Earned .............. 26,800
Carl Nicholson, Capital, April 1 ....... ?
Salaries Expense ............. 13,000
Machinery ............. 21,000
Accounts Payable .......... 13,200
Carl Nicholson, Drawing ........ 6,800

INSTRUCTIONS
Using the accounting equation form, determine the balance for Carl Nicholson, Capital, April 1, 2016. Prepare an income statement for the month of April, a statement of owner’s equity, and a balance sheet as of April 30, 2016. List the expenses on the income statement in alphabetical order.
Analyze: What net change in owner’s equity occurred during the month of April?



$1.99
Sales10
Views784
Comments0
  • CreatedAugust 08, 2014
  • Files Included
Post your question
5000