Cash	$ 120,000
Accounts receivable	48,000
Maintenance expense	22,000
Advertising expense	17,360
Fees earned	128,800
Lisa Assaad, Capital, April 1	?
Salaries expense	61,000
Machinery	93,000
Accounts payable	52,800
Lisa Assaad, Withdrawals for April	32,600

Required:

Determine the balance for Lisa Assaad, Capital, April 1, 20X1. Prepare an income statement and a statement of owner's equity for the month ended April 30, 20X1, and a balance sheet for April 30, 20X1.

Analyze:

What net change in owner's equity occurred during the month of April?

 

Transcribed Image Text:

Complete this question by entering your answers in the tabs below. Lisa Assaad Capital Income Statement of Statement Owners Equity Balance Sheet Analyze Prepare a statement of owner's equity for the month ended April 30, 20X1. LISA ASSAAD, CERTIFIED PUBLIC ACCOUNTANT Statement of Owner's Equity Month Ended April 30, 20X1 Complete this question by entering your answers in the tabs below. Lisa Assaad Capital Income Statement of Statement Owners Equity Balance Sheet Analyze Prepare a statement of owner's equity for the month ended April 30, 20X1. LISA ASSAAD, CERTIFIED PUBLIC ACCOUNTANT Statement of Owner's Equity Month Ended April 30, 20X1