On November 1, 2023, Dallas Glynn organized a new company called Vision Consulting Inc. On the last day of that month, the company's records showed the items listed below. Use this information to prepare the November income statement and statement of changes in equity as well as the balance sheet at November 30 for Vision Consulting Inc.Balance a) Complete the income statement using the format provided.86,500111,00072,000108,00010,500162,50075,00021,00022,000AccountAccounts receivableBuildingCommissions earnedConsulting revenue earned,DividendsEquipmentFurnitureInterest earnedInterest expense,Interest payable,Property taxes payable,Rent earnedRent expenseShare capital,Short-term notes payable20,50010,00081,000135,000173,500116,500(select one)Income Statement(select one)RevenuesTotal revenues,ExpensesX+Total expenses,b) Complete the statement of changes in equity using the format provided.(select one)Statement of Changes in Equity(select one)X++x+++c) Complete the Balance Sheet.AssetsTotal assetsShare Retained TotalCapital Earnings Equity(select one)Balance Sheet(select one)X +x +LiabilitiesTotal liabilitiesEquityTotal equity.Total liabilities and equity

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Description: On November 1, 2023, Dallas Glynn organized a new company called Vision Consulting Inc. On the last day of that month, the company's records showed the items listed below. Use this information to prepare the November income statement and statement o

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On November 1, 2023, Dallas Glynn organized a new company called Vision Consulting Inc. On the last day of that month, the company's records showed the items listed below. Use this information to prepare the November income statement and statement of changes in equity as well as the balance sheet at November 30 for Vision Consulting Inc. Balance a) Complete the income statement using the format provided. 86,500 (select one) Income Statement 111,000 72,000 (select one) Account Accounts receivable Building Commissions earned Consulting revenue earned Dividends Equipment Furniture Interest eamed Interest expense Interest payable Property taxes payable Rent earned Rent expense, Share capital Short-term notes payable 108.000 10,500 X 162.500 75.000 21,000 X* 22,000 Revenues Total revenues Expenses 173,500 116,500 Total expenses 20,500 10,000 81,000 ) Complete the statement of changes in equity using the format provided. b) 135.000 (select one) Statement of Changes in Equity (select one) **** **** **** c) Complete the Balance Sheet Assets —= ▬▬ Total assets Share Retained Total Capital Eamings Equity (select one) Balance Sheet (select one) XX Liabilities Total liabilities Equity Total equity Total liabilities and equity

On November 1, 2023, Dallas Glynn organized a new company called Vision Consulting Inc. On the last day of that month, the company's records showed the items listed below. Use this information to prepare the November income statement and statement of changes in equity as well as the balance sheet at November 30 for Vision Consulting Inc. Balance a) Complete the income statement using the format provided. 86,500 (select one) Income Statement 111,000 72,000 (select one) Account Accounts receivable Building Commissions earned Consulting revenue earned Dividends Equipment Furniture Interest eamed Interest expense Interest payable Property taxes payable Rent earned Rent expense, Share capital Short-term notes payable 108.000 10,500 X 162.500 75.000 21,000 X* 22,000 Revenues Total revenues Expenses 173,500 116,500 Total expenses 20,500 10,000 81,000 ) Complete the statement of changes in equity using the format provided. b) 135.000 (select one) Statement of Changes in Equity (select one) c) Complete the Balance Sheet Assets —= ▬▬ Total assets Share Retained Total Capital Eamings Equity (select one) Balance Sheet (select one) XX Liabilities Total liabilities Equity Total equity Total liabilities and equity

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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