Preparing a statement of owner's equity LO P2
On October 1, Keisha King organized Real Answers, a new consulting firm; on October 3, the owner contributed $61,690 cash. On October 31, the company's records show the following items and amounts.
Cash $ 8,400 Cash withdrawals by owner $ 2,000
Accounts receivable 18,000 Consulting fees earned 20,000
Office supplies 17,850 Rent expense 3,600
Land 36,000 Salaries expense 8,000
Office equipment 18,000 Telephone expense 760
Accounts payable 31,500 Miscellaneous expenses 580
Owner investments 61,690