Question - Carmen Camry operates a consulting firm called Help Today, which began operations on August 1, On August 31, the company's records show the following accounts and amounts for the month of August.
|
Cash
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$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
|
Use the above information to prepare an August statement of owner's equity for Help Today. The owner's capital account balance at July 31 was $0, and the owner invested $102,000 cash in the company on August 1.