Add:Net Income

Required information Use the following information for Exercises 16-18 below. [The following information applies to the questions displayed below.] Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On August 31, the company's records show the following accounts and amounts for the month of August. Cash $ 25, 450 C. Camry, Withdrawals $ 6, 120 Accounts receivable 22, 490 Consulting fees earned 27 , 110 Office supplies 5, 370 Rent expense 9 , 680 Land 44, 120 Salaries expense 5,700 Office equipment 20, 140 Telephone expense 990 Accounts payable 10,460 Miscellaneous expenses 610 Exercise 2-17 Preparing a statement of owner's equity LO P3 Use the above information to prepare an August statement of owner's equity for Help Today. The owner's capital account bala July 31 was $0, and the owner invested $103,100 cash in the company on August 1. HELP TODAY Statement of Owner's Equity For Month Ended August 31 C. Camry, Capital, July 31 Add: Investment by owner 103,100 Add: Net income 103,100 Less: Withdrawals by owner 6,120 Camry, Capital, August 31 S 96,980