accounting prob @).O 41 68% K) Mon History Bookmarks Window Help edugon.wiloypus

Question

accounting prob @).O 41 68% K) Mon History Bookmarks Window Help edugon.wiloypus corn chapter 1 2 quiz 1 How Much Owne WleyPLUS Weygandt, Accounting Principles, 12e PRINTER VERSSON An analysis of the transactions made by Arthur Cooper & Co, a certified public accounting firm, for the month of August is shown below. The e $650 for rent, $4,800 for salaries and wages, and $400 for utilities. Accounts + Supplies Equipment Payable Cap owner's owner'sRevenues Expenses Capital Drawings Accounts Cash Recelvable $15,000 1- $15,000 2. 2,000 3. 750 4. 4,600 .-1,500 6 -2,000 7. -650 5,000 $3,000 $8,500 $3,900 -1,500 $2,000 -$650 -450 9. 4,800 10. Determine how much owner's equity increased for the month. Net increase in owner's equity Compute the amount of net income for the month MacBook Pro 3 5 6 7 8 9

Explanation / Answer

b Net increase in owner's equity = 15000+8500-2000-650-4800-400= $15650 c Net income = 8500-650-4800-400= $2650

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