Complete the Income Statement, Statement of Owner's Equity and Balance Sheet for Help Today company. Fill in the templates...

Exercise 2-16

HELP TODAY

Income Statement

For Month Ended August 31

Revenues

Consulting fees earned $

Expenses

Rent expense $

Salaries expense

Telephone expense

Miscellaneous expenses ______

Total expenses ______

Net income $

Exercise 2-17

HELP TODAY

Statement of Owners Equity

For Month Ended August 31

C. Camry, Capital, July 31 $ 0

Add: Investment by owner 102,000

Net income (from Exercise 2-16)

Less: Withdrawals by owner _____ _

C. Camry, Capital, August 31

Exercise 2-18

HELP TODAY

Balance Sheet

August 31

Assets Liabilities

Cash Accounts payable

Accounts receivable

Office supplies Equity

Office equipment C. Camry, Capital^*

Land _______ ________

Total assets Total liabilities & equity

^* Amount from Exercise 2-17.

Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On August 31, the company's records show the following accounts and amounts for the month of August. Use this information to prepare an August income statement for the business. The owner invested $102,000 cash in the company on August Withdrawals are also reported on the Statement of Owner's Equity $ Cash Accounts receivable Office supplies Land Office equipment Accounts payable 25,360 22,360 5,250 44,000 20,000 10.500 C. Camry, Withdrawals Consulting fees earned Rent expense Salaries expense Telephone expense Miscellaneous expenses 6,000 27,000 9,550 5,600 860 520