Question
Cash + Accounts Receivable + Supplies + Equipment = Accounts Payable + Owner's Capital - Owner's Drawings + Revenues - Expenses 1.+$15,700+$15,7002.-600+$4,000+$3,4003.-650+$6504.+4,400+$4,700+$9,1005.-1,400-1,4006.-1,600-$1,6007.-600-$6008.+350-3509.-5,100-5,10010.+310-310 (b) Determine how
Cash
+Accounts
Receivable
+Supplies
+Equipment
=Accounts
Payable
+Owner's
Capital
-Owner's
Drawings
+Revenues
-Expenses
1.+$15,700+$15,7002.-600+$4,000+$3,4003.-650+$6504.+4,400+$4,700+$9,1005.-1,400-1,4006.-1,600-$1,6007.-600-$6008.+350-3509.-5,100-5,10010.+310-310
(b)
Determine how much owner's equity increased for the month.
Net increase in owner's equity$
(c)
Compute the amount of net income for the month.
Net income$
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Financial Statement Analysis And Security Valuation
Authors: Stephen H Penman
4th Edition
0073379662, 9780073379661
