Question
All Omar opened a yard care business, Omar's Yard Care, on March 1, 2023. The following activities occurred during his first month of operations:
All Omar opened a yard care business, Omar's Yard Care, on March 1, 2023. The following activities occurred during his first month of operations: a. All Omar invested $6,200 cash and $24,500 of equipment to start his business, Omar's Yard Care. b. Purchased various supplies on account; $3,500. c. Bought supplies on credit; $1,140. d. Omar signed a $5,900 contract to do yard work beginning in May. e. Did work for a client on account; $740. f. Performed services for a customer on credit: $1,550. g. Paid $390 for the supplies purchased in (c). h. Paid $440 for advertising online. i. Collected the amount owed from the customer in (f). Prepare an income statement, statement of changes in equity, and balance sheet for March 2023.
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