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Required information [The following information applies to the questions displayed below.] Carmen Camry operates a consulting firm called Help Today, which began operations on August
Required information [The following information applies to the questions displayed below.] 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. Cash Accounts receivable Office supplies Land Office equipment Accounts payable $ 25,360 C. Camry, Withdrawals 22,360 Consulting fees earned 5,250 Rent expense 44,000 Salaries expense 20,000 Telephone expense 10,500 Miscellaneous expenses $ 6,000 27,000 9,550 5,600 860 520 Use the above information to prepare an August 31 balance sheet for Help Today. (Hint. Compute the owner's capital account balance as of August 31.) Use the above information to prepare an August 31 balance sheet for Help Today. (Hint Compute the owner's capital account balance as of August 31.) % Answer is not complete. HELP TODAY Balance Sheet Liabilities: Accounts payable $ $ 10,500 Assets: Cash Accounts receivable Office supplies 25,360 22,360 5,250 Equity: Consulting fees earned C. Camry, Capital $ 4,470 102,000 X Land Office equipment 44,000 20,000 116,970 Total Assets $ Total Liabilities and Equity $ 116,970
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