3. From the information given below, prepare a November income statement, a November statement of owner’s equity, and a November 30 balance sheet. On November 1 of the current year, Lois Bell began Lois Bell, Interior Design with an initial investment of $50,000 cash. On November 30, her records showed the following (alphabetically arranged) items and amounts.Accounts payable................$12,000Office furnishings...........$40,000Accounts receivable..........23,000Owner's withdrawals.......6,000Cash...........................17,200Rent expense...............3,600Fees earned (same as Revenue earned)...................30,000Salaries expense..........6,200Notes payable.....................4,250Telephone expense.......250
3. From the information given below, prepare a November income statement, a November statement of owner’s equity, and a November 30
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