Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Worksheet and Financial Statements | 277 NAME: SECTION SCORE: PROFESSOR: #9 roblertion of the Income Statement and the Statement of Changes in Equity e and
Worksheet and Financial Statements | 277 NAME: SECTION SCORE: PROFESSOR: #9 roblertion of the Income Statement and the Statement of Changes in Equity e and expense accounts of Nora Maniquiz Real Estate Agency, which are listed f the firstvelo below: low,represent the activities for the month of June 2018: Advertising Expense Commissions Expense Office Supplies Expense Real Estate Revenues Rent Expense Salaries Expense Utilities Expense Depreciation Expense P 163,000 475,000 27,000 1,250,000 48,000 264,000 42,000 5,000 Cash 770,000 Required: 1. Prepare an income statement for the month ended June 30, 2018. 2. On June 1, 2018, Maniquiz has a P123,000 capital balance. During the month, Maniquiz invested an additional P16,000 in the business and withdrew P250,000. Prepare a statement of changes in equity for the month ended June 30, 2018
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started