Ch02P7A - 20 subtotal- - - - - - - Less: Withdrawals by...

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Problem 2-7A 1 and 2. Assets = Liabilities + Equity 3. Date Cash Accounts Payable Explanation B/F Frey Electrical Company 1 Income Statement subtotal - - - - - - - For Month Ended November 30, 2005 3 Revenues: subtotal - - - - - - - Consulting service revenue 5 Operating expenses: subtotal - - - - - - - Salaries expense 6 Rent expense subtotal - - - - - - - Utilities expense 8 Total operating expenses - subtotal - - - - - - - Net loss $- 15 subtotal - - - - - - - Frey Electrical Company 16 Statement of Owner's Equity subtotal - - - - - - - - For Month Ended November 30, 2005 18 Stan Frey, capital, November 1 subtotal - - - - - - - Add: Investment by owner
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Unformatted text preview: 20 subtotal- - - - - - - Less: Withdrawals by owner 24 Net Loss- subtotal- - - - - - - 28 subtotal- - - - - - - 30 Stan Frey, capital, November 30 $- subtotal- - - - - - - 30 Frey Electrical Company subtotal- - - - - - - Balance Sheet 30 November 30, 2005 total $- $- $- $- $- $- $- Assets $0 $0 Cash Accounts receivable Office supplies Office equipment Electrical equipment Total assets $- Liabilities Accounts payable Owner's Equity Stan Frey, capital Total liabilities and owner's equity $- Accounts Receivable Office Supplies Office Equipment Electrical Equipment Stan Frey, Capital...
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