Jose Loder established Bronco Consulting on August 1, 2016. The effect of each transaction and the balances

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Jose Loder established Bronco Consulting on August 1, 2016. The effect of each transaction and the balances after each transaction for August follow:

Jose Loder established Bronco Consulting on August 1, 2016. The


Instructions:

1. Prepare an income statement for the month ended August 31, 2016.

2. Prepare a statement of owner’s equity for the month ended August 31, 2016.

3. Prepare a balance sheet as of August 31, 2016.

4. (Optional) Prepare a statement of cash flows for the month ending August 31, 2016.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Accounting

ISBN: 978-1285743615

26th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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