I. Prepare the financial statements of OCHEI SALON AND SPA as of the fiscal year March 31,2015.ACCOUNT TITLEDEBIT CREDITAccounts Receivable28,600Additional Investment6,500Utilities ExpenseOchei, CapitalAccounts Payable36,000148,25084,200Furniture and Fixtures225,000Notes PayableIncome from Salon and SpaOffice SuppliesAdvertising ExpenseAccumulated Depreciation- F and FCash35,80078,8006,30045,50051,30063,450

OCHEI SALON AND SPA Income Statement For the Year Ended December 31, 2015 Amount…

I. Prepare the financial statements of OCHEI SALON AND SPA as of the fiscal year March 31, 2015. ACCOUNT TITLE DEBIT CREDIT Accounts Receivable 28,600 Additional Investment 6,500 Utilities Expense Ochei, Capital Accounts Payable Furniture and Fixtures Notes Payable Income from Salon and Spa Office Supplies Advertising Expense Accumulated Depreciation- F and F Cash 36,000 148,250 84,200 225,000 35,800 78,800 6,300 45,500 51,300 63,450

I. Prepare the financial statements of OCHEI SALON AND SPA as of the fiscal year March 31, 2015. ACCOUNT TITLE DEBIT CREDIT Accounts Receivable 28,600 Additional Investment 6,500 Utilities Expense Ochei, Capital Accounts Payable Furniture and Fixtures Notes Payable Income from Salon and Spa Office Supplies Advertising Expense Accumulated Depreciation- F and F Cash 36,000 148,250 84,200 225,000 35,800 78,800 6,300 45,500 51,300 63,450

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 13GI

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