Jim Trickett, a retired army officer, opened Tricketts Catering Service. As his accountant, analyze the transactions listed

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Jim Trickett, a retired army officer, opened Trickett’s Catering Service. As his accountant, analyze the transactions listed and present them in proper form.

1. The analysis of the transactions by using the expanded accounting equation.

2. A balance sheet showing the financial position of the firm before opening on October 31, 201X.

3. An income statement for the month of November.

4. A statement of owner’s equity for November.

5. A balance sheet as of November 30, 201X.

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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College Accounting A Practical Approach

ISBN: 9780134729312

14th Edition

Authors: Jeffrey Slater, Mike Deschamps

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