ACC 201 -- Week4 Assignment2 Ch8

ACC 201 -- Week4 Assignment2 Ch8 - Chapter 8 1 Chapter 8...

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Chapter 8 1 Chapter 8 Work Ashley Dyal ACC 201 Ms. Rayford March 4, 2011
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Chapter 8 2 Chapter 8 Work Problem 8-18 A. Financial Statement at sole proprietorship status Sanford Sole Proprietorship as Dec 31, 2007 Income Statement Cap Statement Balance Statement Rev $90000 Beg Cap bal 0 Rev $90000
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Chapter 8 3 Expenses $65000 + Inv by Owner $160000
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Chapter 8 4 + Net Income $25000 Assets
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Chapter 8 5 Net Income $25000 - W/D by owner $10000 Cash $175000
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Chapter 8 6 Equity
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Chapter 8 7 Ending Cap Bal $175000 Sanders Cap $175000
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Chapter 8 8 B. Financial Statement at partnership status Income Statement Cap Statement Balance Statement
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Chapter 8 9 Rev $90000 Beg Cap bal 0 Asset
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Chapter 8 10 Expenses $65000 + Inv by Owner $160000 Cash $175000
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Chapter 8 11 + Net Income $25000 Equity
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Chapter 8 12 Net Income $25000 - W/D by owner $10000 Sanders cap $110000
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Chapter 8 13 James Cap $65000
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Chapter 8 14 Ending Cap Bal $175000 $175000
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Chapter 8 15 C. Financial Statement at corporation status. I am not sure if this is right I know the
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ACC 201 -- Week4 Assignment2 Ch8 - Chapter 8 1 Chapter 8...

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