On March 1st, Richard Cook had capital of $150,000. During the month of March he withdrew $31,000
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On March 1st, Richard Cook had capital of $150,000. During the month of March he withdrew $31,000 from the business for personal use. The amount of assets, liabilities, revenue, and expenses are listed below. Prepare an income statement, statement of owner's equity, and balance sheet for March 31st.
Accounts Payable = $10,250
Accounts Receivable = $45,950
Cash = $23,840
Fees Earned = $64,950
Insurance expense = 1,275
Land = $85,400
Miscellaneous expenses = $1,210
Prepaid insurance = $3,000
Rent expense = $9,000
Salary expense = $20,300
Supplies = $900
Supplies expense = $525
Utilities expense = $2,800
Expert Answer:
Related Book For 
Introduction to Operations Research
ISBN: 978-1259162985
10th edition
Authors: Frederick S. Hillier, Gerald J. Lieberman
Posted Date:
