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Unformatted text preview: Explanation Balance Glenrose Servicing 30-Jun Income Statement 5-Jul For Month Ended July 31, 2005 8 Revenues: 9 Service revenue 12 Operating expenses: 14 Wages expense 15 Rent expense 17 Utilities expense 25 Total operating expenses- 31 Net income $- 31 Glenrose Servicing Statement of Owner's Equity total For Month Ended July 31, 2005 Dianne Towbell,capital,June 30 Add: Investment by owner Net income- - Less: Withdrawals by owner Dianne Towbell,capital, July 31 $- Glenrose Servicing Balance Sheet July 31, 2005 Assets Cash Accounts receivable Office equipment Total assets $- Liabilities Accounts payable Owner's Equity Dianne Towbell, capital Total liabilities and owner's equity $- Accounts Receivable Office Equipment D Towbell, Capital...
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