50.1K

Verified Solution

Link Copied!

Angela Lopez owns and manages a consulting firm called Metrix, which began operations on March 1. On March 31, the company's records show the following accounts and amounts for the month of March. Equipment Salaries expense Consulting revenue Cash Utilities expense Note payable Accounts receivable A. Lopez, Withdrawals $13,500 4,900 21,500 11,800 580 4,300 5,400 3,900 Office supplies Rental revenue Advertising expense Prepaid insurance Accounts payable Note receivable Rent expense Unearned revenue $3,400 2,400 780 2,900 7,380 4,400 3,900 680 Required: 1. Prepare a March income statement for the business 2. Prepare a March statement of owner's equity. The owner's capital account balance at February 28 was $0, and the owner invested $19,200 cash in the company on March 1. 3. Prepare a March 31 balance sheet. Hint: Use the owner's capital account balance calculated in part 2 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a March income statement for the business. METRIX Income Statement Required: 1. Prepare a March income statement for the business. 2. Prepare a March statement of owner's equity. The owner's capital account balance at February 28 was $0, and the owner investe $19,200 cash in the company on March 1. 3. Prepare a March 31 balance sheet. Hint: Use the owner's capital account balance calculated in part 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a March income statement for the business. METRIX Income Statement Required: 1. Prepare a March income statement for the business. 2. Prepare a March statement of owner's equity. The owner's capital account balance at February 28 was $0, and the owner invested $19,200 cash in the company on March 1. 3. Prepare a March 31 balance sheet. Hint: Use the owner's capital account balance calculated in part 2. Complete this question by entering your answers in the tabs below. Required 1 Require 2 Required 3 Prepare a March statement of owner's equity. The owner's capital account balance at February 28 was $0, and the owner invested $19,200 cash in the company on March 1. METRIX Statement of Owner's Equity Required: 1. Prepare a March income statement for the business. 2. Prepare a March statement of owner's equity. The owner's capital account balance at February 28 was $0, and the owner invested $19,200 cash in the company on March 1. 3. Prepare a March 31 balance sheet. Hint: Use the owner's capital account balance calculated in part 2. Complete this question by entering your answers in the tabs below. . Required 1 Required 2 Reguled 3 Prepare a March 31 balance sheet. Hint: Use the owner's capital account balance calculated in part 2. METRIX orces Balance Sheet

Answer & Explanation Solved by verified expert

See Answer