Carmen Camry operates a consulting firm called Help Today, which began operations on August 1....
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Accounting
Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On August 31, the companys records show the following accounts and amounts for the month of August. Use this information to prepare an August income statement for the business. You will prepare financial statements - income statement, statement of owner's equity and balance sheet. Download this template and upload to this dropbox when completed.
Cash
$25,360
C. Camry, Withdrawals
$ 6,000
Accounts receivable
22,360
Consulting fees earned
27,000
Office supplies
5,250
Rent expense
9,550
Land
44,000
Salaries expense
5,600
Office equipment
20,000
Telephone expense
860
Accounts payable
10,500
Miscellaneous expenses
520
2. prepare an August statement of owners equity for Help Today. The owners capital account balance at July 31 was $0, and the owner invested $102,000 cash in the company on August 1. 3. Use the information in Exercise 2-16 to prepare an August 31 balance sheet for Help Today. (Hint: Compute the owners capital account balance as of August 31.)
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