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Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On...

Question:

Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On August 31, the companys re
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 Dividends $ 25,310 Consulting fees earned 22,320 Rent expense 5,200 Salaries expense 43,970 Telephone expense 19,969 Miscellaneous expenses 10,700 Common stock 5,950 $ 26,960 9,500 5,560 820 470 101,400 Exercise 2-18 Preparing a balance sheet LO P3 Use the above information to prepare an August 31 balance sheet for Help Today (Hint The ending retained earnings account balanc as of August 31 is $4,660.) HELP TODAY Balance Sheet

Answers

HELP TODAY

Balance sheet

Assets Equity and liabilities
Cash 25,310 Accounts Payables 10,700
Accounts recievable 22,320 Total Liabilities 10,700
Office supplies 5,200 Stockholders equity
Land 43,970 Common Stock 101,400
Office equipment 19,960 Retained Earnings 4,660
Total stock holders equity 106,060
Total assets 116,760 Total Equity and liabilities 116,760
.

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