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Using the transaction analysis final balances at the end of the month (balances in orange font), prepare the following financial statements: an income statement. a
- Using the transaction analysis final balances at the end of the month (balances in orange font), prepare the following financial statements:
- an income statement.
- a statement of owners equity
- a balance sheet
- a statement of cash flows (focus on the cash column of the transaction analysis)
ASSETS = Accounts Receivable LIABILITIES + Accounts supplies payable OWNER'S EQUITY James Moore, capital +30000 James Moore, drawings Fees earned Rent Salaries expense Expense Supplies Repairs Expense expense Cash a. +30,000 30000 bal WA 30000 b. +1750 +1750 bal 30000 1750 1750 30000 C. 3600 +3,600 3,600 Bal 30,000 1750 1750 30000 3600 -1300 -1300 d. bal 3,600 WW 1750 1750 30000 3600 1300 28,700 500 e. +500 2,250 Bal 1,750 30000 3600 1300 28,200 +600 3,600 -600 f. Bal 3,000 2,250 1,750 30000 3,600 1300 28,800 +4,000 32,800 +4,000 Bal 3,000 2,250 1,750 30000 7,600 1300 h. -1000 -1000 1000 Bal 3,000 2,250 30000 7,600 1300 31,800 -1,000 1,750 -1,000 1. Bal 30,800 3,000 2,250 750 30000 7,600 1300 1000 -2000 -2000 j. Bal 28,800 3,000 2,250 750 30000 2000 7,600 1300 1000 k. -1,500 -1500 Bal 27,300 3,000 750 30,000 2,000 7,600 1,300 1,000 1,500 I. Bal. 2,250 -800 1,450 -800 800 27,300 3,000 750 30,000 2,000 7,600 1,300 1,000 1500
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