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Andrew Martin started Allarco Inc. early this year. For the first few months of the company's life (through August) the accounting records were maintained by
Andrew Martin started Allarco Inc. early this year. For the first few months of the company's life (through August) the accounting records were maintained by an outside bookkeeping service. According to those records, the share capital balance was $23,000 as of August 31 . To save on expenses Andrew decided to keep the records himself. He managed to record September's transactions properly, but was a bit rusty when the time came to prepare the financial statements. His first versions of the balance sheet and income statement follow. Using the information contained in the original financial statements, prepare revised statements, including a statement of changes in equity, for the month of September. Using the information contained in the original financial statements, prepare revised statements, including a statement of changes in equity, for the month of September
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