Using your answer from Exercise 1-24, prepare an income statement, a statement of changes in equity, and

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Using your answer from Exercise 1-24, prepare an income statement, a statement of changes in equity, and a balance sheet for July 2020.

Analysis Component: Review Gold?s balance sheet. How much of the assets are financed by Gold? How much of the assets are financed by debt?

Exercise 1-24

Natalie Gold is the owner of the marketing agency Vivid Voice. The company focuses on online consulting services, such as online marketing campaigns and blog services. The June transactions for Vivid Voice resulted in totals at June 30, 2020, as shown in the following accounting equation format:

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Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Fundamental Accounting Principles Volume I

ISBN: 978-1260305821

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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