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College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958 Exercise 35
Preparing an income statement, a statement of owner's equity, and a balance sheet.
The following equation shows the transactions of West Cleaning Service during May. The business is owned by Carol West.
INSTRUCTIONS
Analyze each transaction carefully. Prepare an income statement and a statement of owner's equity for the month. Prepare a balance sheet for May 31, 2013. List the expenses in detail on the income statement.
Analyze: In order to complete the balance sheet, which amount was transferred from the statement of owner's equity?
The following equation shows the transactions of West Cleaning Service during May. The business is owned by Carol West.
INSTRUCTIONS
Analyze each transaction carefully. Prepare an income statement and a statement of owner's equity for the month. Prepare a balance sheet for May 31, 2013. List the expenses in detail on the income statement.
Analyze: In order to complete the balance sheet, which amount was transferred from the statement of owner's equity?
Explanation
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Verified
Part: 1
The profit earned by the firm a...
College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
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