Jose Loder established Bronco Consulting on August 1, 20Y2. The effect of each transaction and the balances
Question:
Jose Loder established Bronco Consulting on August 1, 20Y2. The effect of each transaction and the balances after each transaction for August follow:
Instructions
1. Prepare an income statement for the month ended August 31, 20Y2.
2. Prepare a statement of owner’s equity for the month ended August 31, 20Y2.
3. Prepare a balance sheet as of August 31, 20Y2.
4. Prepare a statement of cash flows for the month ending August 31, 20Y2.
Transcribed Image Text:
Assets =Liabilities+ Owner's Equity Accounts + Receivable + Supplies Accounts Payable + Jose Loder, Jose Loder, Capital Cash Fees Salaries Rent Drawing + Earned - Expense - Expense - Expense - Expense - Expense Auto Supplies %3! Misc. a. +75,000 +75,000 b. +9,000 +9,000 Bal. 75,000 9,000 9,000 75,000 C. +92,000 +92,000 Bal. 167,000 9,000 9,000 75,000 d. -27,000 92,000 -27,000 Bal. 140,000 9,000 9,000 75,000 92,000 -27,000 е. -6,000 --6,000 Bal. 134,000 9,000 3,000 75,000 92,000 -27,000 f. +33,000 +33,000 Bal. 134,000 33,000 9,000 3,000 75,000 125,000 -27,000 g. -23,000 -15,500 -7,500 Bal. 111,000 33,000 9,000 3,000 75,000 125,000 -27,000 -15,500 -7,500 h. -58,000 -58,000 Bl. 53,000 33,000 9,000 3,000 75,000 125,000 -58,000 -27,000 -15,500 -7,500 1. -6,100 -6,100 Bal. 53,000 33,000 2,900 3,000 75,000 125,000 -58,000 -27,000 -15,500 -6,100 -7,500 J. -15,000 -15,000 Bal. 38,000 33,000 2,900 3,000 75,000 -15,000 125,000 -58,000 -27,000 -15,500 -6,100 -7,500
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1 Prepare an income statement for the month ended August 31 20Y2 Answer Bronco Consulting Income Statement For the month ending August 31 20Y2 Revenue ...View the full answer
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Related Book For
Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
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