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2. On November 1 of the current year, Tara Marie began Tara Marie Company with an initial investment of $50,000 cash. On November 30,
2. On November 1 of the current year, Tara Marie began Tara Marie Company with an initial investment of $50,000 cash. On November 30, her records showed the following (alphabetically arranged) accounts and amounts. Accounts payable... Accounts receivable.. Cash... Fees earned. Notes payable.. Required: $12,000 Office furnishings... 19,000 Owner's withdrawals.. $40,000 6,000 9,600 34,000 Salaries expense.. 4,200 4,250 Telephone expense... 250 21,200 Rent expense... From the information given above, prepare a November income statement, a November statement of owner's equity, and a November 30 balance sheet. Remember to include headings for each statement.
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