The following account balances are for Ping Chung, Certified Public Accountant, as of April 30, 20X1. Cash Accounts receivable Maintenance expense Advertising expense Fees earned Ping Chung, Capital, April 1 Salaries expense Machinery Accounts payable Ping Chung, withdrawals for April Required: Determine the balance for Ping Chung, Capital, April 1, 20X1. Prepare an income statement and a statement of owner's equity month ended April 30, 20X1, and a balance sheet for April 30, 20X1. Complete this question by entering your answers in the tabs below. Ping Chung Capital $120,000 48,000 18,400 15,560 107,200 ? 52,000 84,000 52,800 27, 200 Income Statement Stmt of Owners Eqty Balance Sheet Analyze What net change in owner's equity occurred during the month of April? (Decreases in equity should be indicated by a minus sign.) Net change in owner's equity

The following account balances are for Ping Chung, Certified Public Accountant, as of April 30, 20X1. Cash Accounts receivable Maintenance expense Advertising expense Fees earned Ping Chung, Capital, April 1 Salaries expense Machinery Accounts payable Ping Chung, withdrawals for April Required: Determine the balance for Ping Chung, Capital, April 1, 20X1. Prepare an income statement and a statement of owner's equity month ended April 30, 20X1, and a balance sheet for April 30, 20X1. Complete this question by entering your answers in the tabs below. Ping Chung Capital $120,000 48,000 18,400 15,560 107,200 ? 52,000 84,000 52,800 27, 200 Income Statement Stmt of Owners Eqty Balance Sheet Analyze What net change in owner's equity occurred during the month of April? (Decreases in equity should be indicated by a minus sign.) Net change in owner's equity

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Accounting For Merchandising Businesses

Section: Chapter Questions

Problem 5PA: The following selected accounts and their current balances appear in the ledger of Clairemont Co....

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