At the beginning of September, Selena Cantu started Cantu 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 $ 67,600 Accounts Receivable 9,400 Office Supplies 8,200 Office Equipment 76,400 Accounts Payable 12,800 Selena Cantu, Capital, September 1, 2019 54,800 Fees Income 157,200 Advertising Expense 14,400 Salaries Expense 33,400 Telephone Expense 3,000 Withdrawals 12,400 Required: Prepare a statement of balance sheet for the month of September and a balance sheet for Cantu Wealth Management Consulting as of September 30, 2019.
At the beginning of September, Selena Cantu started Cantu 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 $ 67,600 Accounts Receivable 9,400 Office Supplies 8,200 Office Equipment 76,400 Accounts Payable 12,800 Selena Cantu, Capital, September 1, 2019 54,800 Fees Income 157,200 Advertising Expense 14,400 Salaries Expense 33,400 Telephone Expense 3,000 Withdrawals 12,400 Required: Prepare a statement of balance sheet for the month of September and a balance sheet for Cantu Wealth Management Consulting as of September 30, 2019.
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter1: Business Transactions (ptrans)
Section: Chapter Questions
Problem 5R: On June 1 of the current year, Wilson Wood opened Woodys Web Services. This sole proprietorship had...
Related questions
Topic Video
Question
At the beginning of September, Selena Cantu started Cantu 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 | $ | 67,600 | |
9,400 | |||
Office Supplies | 8,200 | ||
Office Equipment | 76,400 | ||
Accounts Payable | 12,800 | ||
Selena Cantu, Capital, September 1, 2019 | 54,800 | ||
Fees Income | 157,200 | ||
Advertising Expense | 14,400 | ||
Salaries Expense | 33,400 | ||
Telephone Expense | 3,000 | ||
Withdrawals | 12,400 | ||
Required:
Prepare a statement of balance sheet for the month of September and a balance sheet for Cantu Wealth Management Consulting as of September 30, 2019.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 3 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781305084087
Author:
Cathy J. Scott
Publisher:
Cengage Learning
Corporate Financial Accounting
Accounting
ISBN:
9781305653535
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning