Question
Angela Lopez owns and manages a consulting firm called Metrix, which began operations on March 1. On March 31, the company's records show the following
Angela Lopez owns and manages a consulting firm called Metrix, which began operations on March 1. On March 31, the company's records show the following accounts and amounts for the month of March. Equipment Salaries expense. $ 7,000 Office supplies $2,100 3,600 Rental revenue 1,100 Consulting revenue 15,000 Advertising expense 520 Cash 9,200 Prepaid insurance 1,600 Utilities expense 320 Accounts payable 3,220 Note payable 3,000 Note receivable. 3,100 Accounts receivable 4,100 Rent expense 2,600 31 A. Lopez, Withdrawals 2,600 Unearned revenue 420 Required: 1. Prepare a March income statement for the business. 2. Prepare a March statement of owner's equity. The owner's capital account balance at February 28 was $0, and the owner invested $14,000 cash in the company on March 1. 3. Prepare a March 31 balance sheet Hint Use the owner's capital account balance calculated in part 2 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a March income statement for the business METRIX locomn Statement
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