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Tnese finanCial statemer ems are for Sa mpany at year-end, July 31, Salaries and wages payable $2,300 Notes payable (long-term) $1,800 Salaries and wages expense 51,500 Cash 14,300 Utilities expense 23,000 Accounts receivable 10,400 Equipment 29,000 Accumulated depreciation-equipment 6,400 Accounts payable 4,700 Owner's drawings 3,200 Service revenue 60,800 Depreciation expense 4,300 Rent revenue 8,400 Owner's Capital (beginning of the year) 51,300

Tnese finanCial statemer ems are for Sa mpany at year-end, July 31, Salaries and wages payable $2,300 Notes payable (long-term) $1,800 Salaries and wages expense 51,500 Cash 14,300 Utilities expense 23,000 Accounts receivable 10,400 Equipment 29,000 Accumulated depreciation-equipment 6,400 Accounts payable 4,700 Owner's drawings 3,200 Service revenue 60,800 Depreciation expense 4,300 Rent revenue 8,400 Owner's Capital (beginning of the year) 51,300

FINANCIAL ACCOUNTING
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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how do you prepare an owners equity statement?

Prepare an owner's equity statement for the year. SANDHILL COMPANY Owner's Equity Statement $ 2$ $
Transcribed Image Text:Prepare an owner's equity statement for the year. SANDHILL COMPANY Owner's Equity Statement $ 2$ $
These financial statement items are for Sandhill Company at year-end, July 31, 2020. Salaries and wages payable $2,300 Notes payable (long-term) $1,800 Salaries and wages expense 51,500 Cash 14,300 Utilities expense 23,000 Accounts receivable 10,400 Equipment 29,000 Accumulated depreciation-equipment 6,400 Accounts payable 4,700 Owner's drawings 3,200 Service revenue 60,800 Depreciation expense 4,300 Rent revenue 8,400 Owner's Capital (beginning of the year) 51,300
Transcribed Image Text:These financial statement items are for Sandhill Company at year-end, July 31, 2020. Salaries and wages payable $2,300 Notes payable (long-term) $1,800 Salaries and wages expense 51,500 Cash 14,300 Utilities expense 23,000 Accounts receivable 10,400 Equipment 29,000 Accumulated depreciation-equipment 6,400 Accounts payable 4,700 Owner's drawings 3,200 Service revenue 60,800 Depreciation expense 4,300 Rent revenue 8,400 Owner's Capital (beginning of the year) 51,300
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