Financial information related to the proprietorship of plexiglassinterior for october and november 2010
is as follows:
october 31,2010 november 30, 2010
acc.payable $46,200 49,800
acc.receivable 102,000 117,375
capital ? ?
cash 180,000 306,000
supplies 9,000 7,500
a- Prepare balance sheets for plexiglass interiors as of october 31and as of november 30, 2010.
b- Determine the amount of net income for november, assuming that the owner made no additional investment or withdrawals during the month.
c- determine the amount of net income for november, assuming thatthe owner made no addtional investments but withdrew $37,500 duringthe month.