
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
why?

Transcribed Image Text:At the beginning of September, Helen Rojas started Rojas Wealth Management Consulting, a firm that offers financial planning and
advice about investing and managing money. On September 30, the accounting records of the business showed the following
information.
Cash
Accounts receivable
Office supplies
Office equipment
Accounts payable
Helen Rojas, Capital, September 1, 20X1
$ 67, 500
9, 300
8, 100
76, 300
12, 700
54, 700
157, 100
Fees income
Advertising expense
Salaries expense
Telephone expense
Withdrawals
14, 300
33, 300
2, 900
12, 800
Required:
Prepare a statement of owner's equity for the month of September and a balance sheet for Rojas Wealth Management Consulting as of
September 30, 20X1.
Complete this question by entering your answers in the tabs below.
Stmt of
Owners Egty Balance Sheet
Prepare a statement of owner's equity for the month of September 30, 20X1.

Transcribed Image Text:Assets
Liabilities +
Owner's Equity
%3D
Prepaid
Trayton Eli,
Сapital
Аccounts
Cash
+
Supplies +
Rent
+
Equipment
Payable +
+
Revenue
Previous balances
$ 83,000 +
$1,500
+
$8,000 +
$11,000
$3,500
+
$100,000
(g) Received cash
+$36,000
(g) Increased
owner's equity
by earning revenue
+
$36,000
New balances
$119,000 +
$1,500
+
$8,000 +
$11,000
$3,500
+
$100,000
+
$ 36,000
$139,500
$139,500
Expert Solution
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