Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. prepare an income statement and a statement of cha

Prepare an income statement and a statement of changes in equity for the Consulting practice...

70.2K

Verified Solution

Question

Accounting

Prepare an income statement and a statement of changes in equity for the Consulting practice of Michael Parkinson, from the account balances listed below for the month of July 20X2. Equity (July 1) 30000 Accounts payable 40000 Bank Loan 16000 Equipment 80000 Service revenue 30000 Dividends paid 7000 Office supplies consumed 1500 Cash 1000 Water and light expense 1500 Office supplies on hand 4000 Salaries expense 15000 Accounts receivable 4000 Rent expense 2000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

8. Explain the liability of bailees for lost damaged, or destroyed goods? Business Law questions

Finance
1.2K views

Can increasing revenue overcome an increase in the percentage of food cost?

Biology
1.2K views

Which of these influenced the Supreme Court's decision in the Tinker v. Des Moines case?...

Biology
1.2K views

Which of the following is a way that asexual reproduction is different from sexual reproduction...

Physics
1.2K views

A particle having mass mand charge qis projected into a region having perpendicular magnetic field...

Accounting
1.2K views

Problem 4-14 (Algo) Compute and Use Activity Rates to Determine the Costs of...

Accounting
1.2K views

answer statements true or false

Accounting
1.2K views

please answers with an explanation... On April 1, 2015, Jiro Nozomi created...

Accounting
1.2K views

Just answer the BALANCE SHEET at the very bottom of the page. All other details...

Finance
1.2K views

Answer must be as long as possible *3* . Objectives and Conceptual framework of AAOIFI...

Finance
1.2K views

A pension fund manager is considering three mutual funds. The first is a stock fund,...

Accounting
1.2K views

Dogs 4 U Corporation has net cash flow from financing activities for the last year...