On October 1, Natalie King organized Real Solutions, a new consulting firm. On October 31, the company's records show the following items and amounts.
| |
|
|
|
|
|
|
| Cash |
$ |
3,000 |
|
Cash dividends |
$ |
3,360 |
| Accounts receivable |
|
17,000 |
|
Consulting fees earned |
|
19,000 |
| Office supplies |
|
6,375 |
|
Rent expense |
|
3,420 |
| Land |
|
36,000 |
|
Salaries expense |
|
7,600 |
| Office equipment |
|
28,000 |
|
Telephone expense |
|
660 |
| Accounts payable |
|
11,250 |
|
Miscellaneous expenses |
|
680 |
| Common stock |
|
75,845 |
|
|
|
|
|
Using the above information prepare an October 31 balance sheet for Real Solutions.