the following financial statement infor
The following financial statement information is known about five unrelated companies: Company A Company B Company Company D Company E $122,000 54 , $137,000 61,000 $ 90,000 44,000 $176,000 108,000 $278,000 ? December 31, 2019: Assets Liabilities December 31, 2020: Assets Liabilities During 2020: Owner investments Profit (loss) Owner withdrawals 128,000 > 114,000 71,000 ? 54,000 282,000 144,000 257,000 166,000 42,000 (32,000) 8,200 51,000 2 9,200 31,500 21,200 12,550 ? 40,000 -0- 12,200 39,200 21,200 7 Larry Power started a new business in the name of Power Electrical on October 1, 2020. During October, a number of activities occurred and the following totals resulted at October 31, 2020 (shown in accounting equation format assets Llities Accounts Equity office office Electrical Cash Accounts Receivable Supplies Larry Power Equip Equip. Tayable $33,eee + Capital $7,300 $2,200 + $31,000 + $15,5 $21,000 + 563,040 During November, the following occurred: Nov. Nov. 1 Rented office space and paid cash for the month's rent of $7,500. 3 Purchased electrical equipment for $21,000 from an electrician who was going out of business, by using $11, see in personal funds and agreeing to pay the balance in 30 days. 5 Purchased office supplies by paying $2,100 cash. 6 Completed electrical work and immediately collected $2,300 for doing the work. 8 Purchased $5,508 of office equipment on credit. 15 Completed electrical work on credit in the amount of $6,300. 16 Interviewed and hired a part-time electrician who will be paid $5,680 each month. He will begin work in three weeks. 18 Purchased $1,300 of office supplies on credit. 2e paid for the office equipment purchased on November 8. 24 Billed a client $4,959 for electrical work; the balance is due in 30 days. 28 Received $6,300 for the work completed on November 15. 30 Paid the office assistant's salary of $4,700. 30 Paid the monthly utility bills of $3,900. 30 Power withdrew $1,700 from the business for personal use. The following financial statement information is known about five unrelated companies: Company A Company B Company Company D Company E $122,000 54 , $137,000 61,000 $ 90,000 44,000 $176,000 108,000 $278,000 ? December 31, 2019: Assets Liabilities December 31, 2020: Assets Liabilities During 2020: Owner investments Profit (loss) Owner withdrawals 128,000 > 114,000 71,000 ? 54,000 282,000 144,000 257,000 166,000 42,000 (32,000) 8,200 51,000 2 9,200 31,500 21,200 12,550 ? 40,000 -0- 12,200 39,200 21,200 7 Larry Power started a new business in the name of Power Electrical on October 1, 2020. During October, a number of activities occurred and the following totals resulted at October 31, 2020 (shown in accounting equation format assets Llities Accounts Equity office office Electrical Cash Accounts Receivable Supplies Larry Power Equip Equip. Tayable $33,eee + Capital $7,300 $2,200 + $31,000 + $15,5 $21,000 + 563,040 During November, the following occurred: Nov. Nov. 1 Rented office space and paid cash for the month's rent of $7,500. 3 Purchased electrical equipment for $21,000 from an electrician who was going out of business, by using $11, see in personal funds and agreeing to pay the balance in 30 days. 5 Purchased office supplies by paying $2,100 cash. 6 Completed electrical work and immediately collected $2,300 for doing the work. 8 Purchased $5,508 of office equipment on credit. 15 Completed electrical work on credit in the amount of $6,300. 16 Interviewed and hired a part-time electrician who will be paid $5,680 each month. He will begin work in three weeks. 18 Purchased $1,300 of office supplies on credit. 2e paid for the office equipment purchased on November 8. 24 Billed a client $4,959 for electrical work; the balance is due in 30 days. 28 Received $6,300 for the work completed on November 15. 30 Paid the office assistant's salary of $4,700. 30 Paid the monthly utility bills of $3,900. 30 Power withdrew $1,700 from the business for personal use
