Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

At the beginning of September, Selena Cantu started Cantu Wealth Management Consulting, a firm that offers financial planning and advice about investing and managing money.

image text in transcribed
image text in transcribed
image text in transcribed
At the beginning of September, Selena Cantu started Cantu Wealth Management Consulting, a firm that offers financial planning and advice about investing and managing money. On September 30, the accounting records of the business showed the following information Canh Accounts Receivable Office Supplies Office Equipment Accounts Payable Selena Cantu, Capital, September 1, 2019 Tees Income Advertising Expense Salarios Expense Telephone Expense Withdrawals $ 68,100 9.900 8,700 26,900 13.300 55,300 157,700 14.900 33,900 3,500 10,400 Required: Prepare a statement of owner's equity for the month of September and a balance sheet for Cantu Wealth Management Consulting as of September 30, 2019 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Stmt of Owners Egy Balance Sheet Prepare a balance sheet for Cantu Wealth Management Consulting as of September 30, 2019. CANTU WEALTH MANAGEMENT CONSULTING Balance Sheet September 30, 2019 completed so far. It does not indica Required: Prepare a statement of owner's equity for the month of September and a balance sheet for Cantu Wealth Management Consultin of September 30, 2019. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Stmt of Owners Eqty Balance Sheet Prepare a balance sheet for Cantu Wealth Management Consulting as of September 30, 2019. CANTU WEALTH MANAGEMENT CONSULTING Balance Sheet September 30, 2019 Assets Liabilities Cash $ 68,100 Accounts payable $ 13,300 Accounts receivable 9.900 Office supplies 8,700 Owner's Equity Office equipment 76,900 Selena Cantu, Capital w $ 54,600 Total assets $ 163,600 Total liabilities and Owner's equity s 67 900 (Simt of Owners Eqty Check my work mode: This shows what is correct or incorrect for the work you have completed so Telepnone expense Withdrawals 3,DU 10,400 Required: Prepare a statement of owner's equity for the month of September and a balance sheet for Cantu Wealth of September 30, 2019 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Stmt of Owners Eqty Balance Sheet Prepare a statement of owner's equity for the month of September 30, 2019. $ CANTU WEALTH MANAGEMENT CONSULTING Statement of Owner's Equity Month Ended September 30, 2019 Selena Cantu, Capital, September 1, 2019 Net income for September 9,700 Less: Withdrawals for September 10,400 Increase in Capital Selena Cantu, Capital, September 30, 2019 55,300 S (700) 54,600 $ Balance Sheet >

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Multinational Finance

Authors: Michael H. Moffett, Arthur I. Stonehill, David K. Eiteman

1st Edition

0201844842, 978-0201844849

More Books

Students also viewed these Finance questions