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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 38
Preparing an income statement, a statement of owner's equity, and a balance sheet.
The equation below shows the transactions of Linda Carter, Attorney and Counselor of Law, during August. This law firm is owned by Linda Carter.
INSTRUCTIONS
Analyze each transaction carefully. Prepare an income statement and a statement of owner's equity for the month. Prepare a balance sheet for August 31, 2013. List the expenses in detail on the income statement.
Analyze: In order to complete the statement of owner's equity, which amount was transferred from the income statement?
The equation below shows the transactions of Linda Carter, Attorney and Counselor of Law, during August. This law firm is owned by Linda Carter.
INSTRUCTIONS
Analyze each transaction carefully. Prepare an income statement and a statement of owner's equity for the month. Prepare a balance sheet for August 31, 2013. List the expenses in detail on the income statement.
Analyze: In order to complete the statement of owner's equity, which amount was transferred from the income statement?
Explanation
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Part: 1
The change which occurs in the ...
College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
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