Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On...

 

Transcribed Image Text:

Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On December 31, the company's records show the following selected accounts and amounts for the month of December. Dividends Cash $ 25,360 $ 6,000 Accounts receivable 22,360 Consulting revenue 27,000 Office supplies 5,250 Rent expense 9,550 Office equipment 20,000 Salaries expense 5,600 Land 44,000 Telephone expense 860 Accounts payable Common stock 10,500 Miscellaneous expenses 520 102,000 Use the above information to prepare a December 31 balance sheet for Help Today. Hint. The ending Retained Earnings account balance as of December 31 is $4,470. Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On December 31, the company's records show the following selected accounts and amounts for the month of December. Dividends Cash $ 25,360 $ 6,000 Accounts receivable 22,360 Consulting revenue 27,000 Office supplies 5,250 Rent expense 9,550 Office equipment 20,000 Salaries expense 5,600 Land 44,000 Telephone expense 860 Accounts payable Common stock 10,500 Miscellaneous expenses 520 102,000 Use the above information to prepare a December 31 balance sheet for Help Today. Hint. The ending Retained Earnings account balance as of December 31 is $4,470.