Best writers. Best papers. Let professionals take care of your academic papers

Order a similar paper and get 15% discount on your first order with us
Use the following coupon "FIRST15"

Accent photography works weddings and prom-type parties. the balance


Accent Photography works weddings and prom-type parties. The balance of capital was $20,000 at December 31, 2010. At December 31, 2011, the business’ accounting records show these balances:


Insurance expense         $8,000 

Cash                               $31,000 

Accounts payable            $6,000 

Advertising Expense       $1,000

Service revenue              $81,000 

Owner withdrawal          $15,000 

Accounts receivable       $10,000 

Note payable                  $12,000 

Owner equity                    ? 

Salary expense                 $27,000 

Equipment                          $60,000 

Owner Investment         $33,000



Prepare the following statements for Accent Photography for the year end December 31, 2011:



A.  Income statement

B.  Statement of owner’s equity

C.  Balance sheet


Source link