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 selected accounts and amounts for the month of August. Cash Accounts receivable OFfice supplies Land Office equipment Accounts payable Common stock 25,480 Dividends 22,520 Consulting fees earned 5,390 Rent expense 44,15e Salaries expense 20,170 Telephone expense 12,020 Miscellaneous expenses 101,800 $ 6,140 27,140 9,710 5,730 1,030 640 Exercise 2-18 Preparing a balance sheet LO P3 Use the above information to prepare an August 31 balance sheet for Help Today. 8 Answer is not complete. HELP TODAY Balance Sheet As of August 31 Assets: O Liabilities: 12,020 Cash 25,480 O Accounts payable 22,520 5,390 O Equity: Accounts receivable Office supplies Retained earnings 3,890 O Common stock 101,800 O Land Office equipment 20,170 105,600 Total equity 117,710 73,560 Total Liabilities and Equity Total Assets
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 selected accounts and amounts for the month of August. Cash Accounts receivable OFfice supplies Land Office equipment Accounts payable Common stock 25,480 Dividends 22,520 Consulting fees earned 5,390 Rent expense 44,15e Salaries expense 20,170 Telephone expense 12,020 Miscellaneous expenses 101,800 $ 6,140 27,140 9,710 5,730 1,030 640 Exercise 2-18 Preparing a balance sheet LO P3 Use the above information to prepare an August 31 balance sheet for Help Today. 8 Answer is not complete. HELP TODAY Balance Sheet As of August 31 Assets: O Liabilities: 12,020 Cash 25,480 O Accounts payable 22,520 5,390 O Equity: Accounts receivable Office supplies Retained earnings 3,890 O Common stock 101,800 O Land Office equipment 20,170 105,600 Total equity 117,710 73,560 Total Liabilities and Equity Total Assets
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter18: Acquiring Capital For Growth And Development
Section: Chapter Questions
Problem 1AP
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Question
It says it’s not complete please help
![Requlred Information
Use the following information for Exercises 16-18 below.
[The following information applies to the questions displayed below.]
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 selected accounts and amounts for the month of August.
$ 6,148
27,140
9,710
5,730
1,030
640
Cash
Accounts receivable
Office supplies
Land
Office equipment
Accounts payable
Common stock
25,480 Dividends
22,520 Consulting fees earned
5,390 Rent expense
44,150 Salaries expense
20,170 Telephone expense
12,020 Miscellaneous expenses
101,800
Exercise 2-18 Preparing a balance sheet LO P3
Use the above information. to prepare an August 31 balance sheet for Help Today.
X Answer is not complete.
HELP TODAY
Balance Sheet
As of August 31
Assets:
O Liabilities:
O Is
12,020
25,480 O Accounts payable
22,520
Cash
Accounts receivable
Office supplies
5,390 O Equity:
Retained earnings
3,890 O
Common stock
101,800
Land
Office equipment
20,170
Total equity
105,690
117,710
Os 73,560
Total Liabilities and Equity
Total Assets](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3df3049e-dc25-4d3a-95bb-4638a6cbaa95%2Fdaa5e2bd-a85a-402c-bddd-1486a081826a%2Flu8x8ta_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Requlred Information
Use the following information for Exercises 16-18 below.
[The following information applies to the questions displayed below.]
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 selected accounts and amounts for the month of August.
$ 6,148
27,140
9,710
5,730
1,030
640
Cash
Accounts receivable
Office supplies
Land
Office equipment
Accounts payable
Common stock
25,480 Dividends
22,520 Consulting fees earned
5,390 Rent expense
44,150 Salaries expense
20,170 Telephone expense
12,020 Miscellaneous expenses
101,800
Exercise 2-18 Preparing a balance sheet LO P3
Use the above information. to prepare an August 31 balance sheet for Help Today.
X Answer is not complete.
HELP TODAY
Balance Sheet
As of August 31
Assets:
O Liabilities:
O Is
12,020
25,480 O Accounts payable
22,520
Cash
Accounts receivable
Office supplies
5,390 O Equity:
Retained earnings
3,890 O
Common stock
101,800
Land
Office equipment
20,170
Total equity
105,690
117,710
Os 73,560
Total Liabilities and Equity
Total Assets
Expert Solution

Step 1
HELP TODAY |
||
Revenue |
|
|
Consulting Revenue |
$27,140 |
|
|
|
|
Total revenue |
|
$27,140 |
|
|
|
Expenses |
|
|
Rent expense |
9710 |
|
Salaries expense |
5730 |
|
Telephone expense |
1030 |
|
Miscellaneous expense |
640 |
|
Total expenses |
|
17110 |
|
|
|
Net Income |
|
$10030 |
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