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Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On December 31, the company's records show the following
Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On December 31, the company's records show the following selected accounts and amounts for the month of December C. Camry, Withdrawals. Cash Accounts receivable office supplies office equipment Land Accounts payable C. Camry, Capital $ 25,200 22,240 Consulting revenue 5,080 Rent expense 19,860 Salaries expense 43,890 Telephone expense 10,840 100,300 Miscellaneous expenses $ 5,830 26,880 9,390 5,450 690 390 Exercise 2-26 (Algo) Preparing a statement of owner's equity LO P1 Use the above information to prepare a December statement of owner's equity for Help Today. The C. Camry, Capital account balance at December 1 was $0, and the owner invested $100,300 in the company on December 2. Hint: Net income for December is $10,960. HELP TODAY Statement of Owner's Equity For Month Ended December 31 C. Camry, Capital, December 1 Add: Investment by owner Less: Withdrawals by owner Total Equity 100,300 100,300 5,830 $ 94,470 D
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