=+Wages expense . . . . . . . . . . . . . . .

Question:

=+Wages expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $51,000 Rent expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,200 Supplies expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (b)

Utilities expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,800 Miscellaneous expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,600 Total expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105,600 Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 74,400 Palo Duro Realty Statement of Owner’s Equity For the Month Ended November 30, 2010 Laura Biddle, capital, November 1, 2010 . . . . . . . . . . . . . . . . . . . . . . . . . $ (c)

Investment on November 1, 2010 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $240,000 Net income for November . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (d)

(e)

Less withdrawals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36,000 Increase in owner’s equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (f)

Laura Biddle, capital, November 30, 2010 . . . . . . . . . . . . . . . . . . . . . . . . (g)

Palo Duro Realty Balance Sheet November 30, 2010

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Accounting

ISBN: 978-1111001346

23rd Edition

Authors: Carl S. Warren

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