Description of this paper

ACC P1-44B - Accent Photography

Description

solution


Question

Question;P1-44BPreparing financial statements and evaluating business performance.Accent Photography works weddings and prom-type parties. The balance of capital was $20,000 at December 31, 2010. At December 31, 2011, the business? accounting records show these balances:Insurance expense $8,000Cash $31,000Accounts payable $6,000Advertising Expense $1,000Service revenue $81,000Owner withdrawal $15,000Accounts receivable $10,000Note payable $12,000Owner equity?Salary expense $27,000Equipment $60,000Owner Investment $33,000Prepare the following statements for Accent Photography for the year end December 31, 2011:Income statementStatement of owner?s equityBalance sheet

 

Paper#40475 | Written in 18-Jul-2015

Price : $22
SiteLock