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I seem to be having trouble with income statements, owners equity and balance sheets Exercise 1-09 a1-a3 An analysis of the transactions made by Wildhorse

I seem to be having trouble with income statements, owners equity and balance sheets

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Exercise 1-09 a1-a3 An analysis of the transactions made by Wildhorse & Co., a certified public accounting firm, for the month of August is shown below. The expenses were $650 for rent, $4,400 for salaries and wages, and $700 for utilities. Cash Accounts + Receivable + Supplies + Equipment = Payable Accounts Owner's Owner's + $15,100 Capital - Drawings + Revenues - Expenses 1. $15,100 2. -3,600 $6,000 $2,400 3. -750 $750 4. 5,300 $3,800 5. -1,100 $9,100 -1,100 6. -2,500 -$2,500 7. -650 -$650 8. 350 -350 9 . -4,400 10. -4,400 700 -700 Assume that August is the company's first month of business.Assume that August is the company's first month of business. Your answer is partially correct. Try again. Prepare an income statement for August 31, 2020. WILDHORSE & CO. Income Statement For the Month Ended August 31, 2020 v Revenues 9100 Expenses Salaries and Wages Expense 4400 Rent Expense 650 * Utilities Expense 600 Total Expenses 5750 Net Income / (Loss) 3350 LINK TO TEXTYour answer is partially correct. Try again. Prepare an owner's equity statement for August 31, 2020. (List items that increase owner's equity first.) WILDHORSE & CO. Owner's Equity Statement For the Month Ended August 31, 2020 v Owner's Capital, August 1 Add v Investments 15100 Net Income 3350 X 11750 x Less v Drawings Owner's Capital, August 31 vYour answer is partially correct. Try again. Prepare a balance sheet at August 31, 2020. (List Assets in order of liquidity.) WILDHORSE & CO. Balance Sheet August 31, 2020 Assets Cash 15100 Accounts Receivable 3450 Supplies 750 Equipment 6000 x Total Assets 25300 Liabilities and Owner's Equity Liabilities x Accounts Payable 3450 Owner's Equity x Owner's Capital X X Click if you would like to Show Work for this question: Open Show Work

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