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Unformatted text preview: $ 2,000 Accounts receivable 12,000 Consulting fees earned 14,000 Office supplies 24,437 Rent expense 2,520 Land 46,000 Salaries expense 5,600 Office equipment 18,000 Telephone expense 760 Accounts payable 25,037 Miscellaneous expenses 580 Owner investments 84,360 REAL ANSWERS Statement of Owner's Equity For Month Ended October 31 K. King, Capital, Oct. 1 $ Add : Investments by Owner 84,360 Net Income 4,540 88,900 Less : Withdrawals by owner 2,000 K. King, Capital, Oct. 31 $ 86,900 On October 1, Keisha King organized Real Answers, a new consulting firm. On October 31, the company's records show the following items and amounts. Use this information to prepare an October 31 balance sheet for Real Answers. (Be sure to list the assets and liabilities in order of their liquidity. Omit the "$" sign in your response.) Cash $ 11,500 Cash withdrawals by owner $ 2,000 Accounts receivable 12,000 Consulting fees earned 14,000...
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- Spring '10