From the following account balances, prepare in proper form for June (a) An income statement, (b) A
Question:
From the following account balances, prepare in proper form for June
(a) An income statement,
(b) A statement of owner?s equity,
(c) A balance sheet for Freeman Realty.
Balance SheetBalance 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...
Transcribed Image Text:
Cash $5,200 S. Freeman, Withdrawals $ 225 Accounts Receivable 1,370 Professional Fees 3,100 Office Equipment 11,500 Salaries Expense 450 Accounts Payable 6,000 Utilities Expense 150 S. Freeman, Capital, June 1, 201X 10,245 Rent Expense 450
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Related Book For
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
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