Angela Lopez owns and manages a consulting firm called Metrix, which began operations on March 1. On March 31, Metrix shows the following selected accounts and amounts for the month of March. Prepare a March statement of owner’s equity. The owner’s capital account balance at March 1 was $0, and the owner invested $11,600 cash in the company on March 2. $ 4,000$3,500Accounts payable...... $1,300Equipment....Salarles expenseAccounts recelvable....A. Lopez, WithdrawalsOffice supples3,0002,000Note recelvable2,500Consulting revenue12,0001,500Rent expense.2,000Cash8,000Rental revenue .500Uneamed revenue.300Utilities expense.200Advertising expense.400Note payable2,400Prepald Insurance.1,000

Name: Angela Lopez owns and manages a consulting firm called Metrix, which b
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Description: Angela Lopez owns and manages a consulting firm called Metrix, which began operations on March 1. On March 31, Metrix shows the following selected accounts and amounts for the month of March. Prepare a March statement of owner’s equity. The owner’s c

Statement of owner's equity: It is a financial statement that show the fluctuation/changes in the…

Answered: $ 4,000 $3,500 Accounts payable......…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Angela Lopez owns and manages a consulting firm called Metrix, which began operations on March 1. On March 31, Metrix shows the following selected accounts and amounts for the month of March. Prepare a March statement of owner’s equity. The owner’s capital account balance at March 1 was $0, and the owner invested $11,600 cash in the company on March 2.

$ 4,000
$3,500
Accounts payable...... $1,300
Equipment....
Salarles expense
Accounts recelvable....
A. Lopez, Withdrawals
Office supples
3,000
2,000
Note recelvable
2,500
Consulting revenue
12,000
1,500
Rent expense.
2,000
Cash
8,000
Rental revenue .
500
Uneamed revenue.
300
Utilities expense.
200
Advertising expense.
400
Note payable
2,400
Prepald Insurance.
1,000

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