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Indicate whether each of the following items is an asset, liability, or part of owner's equity. (a) Accounts receivable (b) Salaries and wages payable (c)
Indicate whether each of the following items is an asset, liability, or part of owner's equity. (a) Accounts receivable (b) Salaries and wages payable (c) Equipment (d) Supplies (e) Owner's capital (1) Notes payable An analysis of the transactions made by Pat Deloitte Co., certified public accounting for the month of August is shown below. The expenses were 5560 for 4.800 for a d was Account Receivable - Supplies - - Accounts Payable Owner's Ca $15.000 Owner's r ewinge Revenues - Expenses 1 2. $5.000 3,000 Cash $15.000 -2,000 -750 4,000 - 1.500 -2.000 -560 54,500 -1,500 -$2.000 50 450 300 Assume that August is the company's first month of business. Prepare an income statement for August 31, 2020. PEAT DELOITTE & CO. Income Statement Prepare an owner's equity statement for August 31, 2020. (List items that increase owner's equity first.) PEAT DELOITTE & CO. Owner's Equity Statement SHOW LIST OF ACCOUNTS
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