Question: How do you find the total amount for the balance sheet for #35? 2 4 5 7 Amos Moving Services Statement of Owner's Equity For
2 4 5 7 Amos Moving Services Statement of Owner's Equity For the Year Ended March 31, 2011 $180,000 Amos, capital, April 1, 2010 Additional investment by owner during year Net Income for the year Subtotal Less withdrawals Increase in owner's equity Amos, capital March 31, 2011 $25,000 59.330 $84,330 16.570 67.760 5247760 PTS: 1 DIF: Moderate OBJ: 01-05 NAT: AACSB Analytic I AICPA FN-Measurement IACBSP-APC-09- Financial Statements TOP: Example Exercise 1-5 35 The assets and liabilities of Amos Moving Services at March 31, 2011, the end of the current year, and its revenue and expenses for the year are listed below. The capital of the owner was $180,000 at April 1, 2010, the beginning of the current year. Mr. Amos invested an additional $25.000 in the business during the year. Accounts Payable $1,200 Miscellaneous Expense $230 Accounts Receivable $10,340 Office Expense $1.240 Cash $33.990 Supplies $1.670 Fees Earned $84,350 Wages Expense $23550 $47.000 Drawing $16,570 Building $157,630 Land Prepare a balance sheet for the current year ended March 31, 2011. ANS: Amos Moving Services Balance Sheet March 31, 2011 Liabilities Accounts Payable $ 1,200 Assets Cash Accounts Receivable Land Building Total Assets $33,990 10,340 47.000 157.630 $248.960 Owner's Equity Amos, Capital Total Liabilities and Owner's Equity 247.760 $248.960 PTS: 1 DIF: Moderate OBJ: 01-05 NAT: AACSB Analytic I AICPA FN-Measurement I ACBSP-APC-09-Financial Statements
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