[The following information applies to the questions displayed below.] Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On December 31, the company's records show the following selected accounts and amounts for the month of Decer Cash S 25,360 Dividends $ 6,000 Accounts receivable 22,360 Consulting revenue Office supplies 5,250 Rent expense Office equipment 20,000 Salaries expense Land 44,000 Telephone expense Accounts payable 10,500 Miscellaneous expenses 520 Common stock 102,000 Use the above information to prepare a December 31 balance sheet for Help Today. Hint. The ending Retained Earnings account balance as of December 31 is $4,470. Assets: Cash Accounts receivable Office supplica 27,000 9,550 5,600 860 $ C HELP TODAY Balance Sheet As of December 31 Liabilities: 25,360 Accounts payable 22,360 5.250 $ 10,500 10.500
[The following information applies to the questions displayed below.] Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On December 31, the company's records show the following selected accounts and amounts for the month of Decer Cash S 25,360 Dividends $ 6,000 Accounts receivable 22,360 Consulting revenue Office supplies 5,250 Rent expense Office equipment 20,000 Salaries expense Land 44,000 Telephone expense Accounts payable 10,500 Miscellaneous expenses 520 Common stock 102,000 Use the above information to prepare a December 31 balance sheet for Help Today. Hint. The ending Retained Earnings account balance as of December 31 is $4,470. Assets: Cash Accounts receivable Office supplica 27,000 9,550 5,600 860 $ C HELP TODAY Balance Sheet As of December 31 Liabilities: 25,360 Accounts payable 22,360 5.250 $ 10,500 10.500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![[The following information applies to the questions displayed below.]
Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On December 31, the company's records show the following selected accounts and amounts for the month of December.
Cash
$ 25,360
$ 6,000
Dividends
Consulting revenue
Accounts receivable 22,360
Office supplies
5,250
20,000
Rent expense
Salaries expense
Office equipment
Land
44,000
Telephone expense
860
Accounts payable
10,500 Miscellaneous expenses 520
Common stock
102,000
Use the above information to prepare a December 31 balance sheet for Help Today. Hint. The ending Retained Earnings account balance as of December 31 is $4,470.
Assets:
Cash
Accounts receivable
Office supplico
27,000
9,550
5,600
$
HELP TODAY
Balance Sheet
As of December 31
Liabilities:
25,360 Accounts payable
22,360
5.250
$
10,500
10.500](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb94b0003-9bce-4d25-bc54-85b1636fb264%2F0ab83c5f-9fbd-4311-98d4-5e485b4f8d5b%2Fx3re52_processed.jpeg&w=3840&q=75)
Transcribed Image Text:[The following information applies to the questions displayed below.]
Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On December 31, the company's records show the following selected accounts and amounts for the month of December.
Cash
$ 25,360
$ 6,000
Dividends
Consulting revenue
Accounts receivable 22,360
Office supplies
5,250
20,000
Rent expense
Salaries expense
Office equipment
Land
44,000
Telephone expense
860
Accounts payable
10,500 Miscellaneous expenses 520
Common stock
102,000
Use the above information to prepare a December 31 balance sheet for Help Today. Hint. The ending Retained Earnings account balance as of December 31 is $4,470.
Assets:
Cash
Accounts receivable
Office supplico
27,000
9,550
5,600
$
HELP TODAY
Balance Sheet
As of December 31
Liabilities:
25,360 Accounts payable
22,360
5.250
$
10,500
10.500
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