Required information
[The following information applies to the questions displayed below.]
Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On December 31,
the company's records show the following selected accounts and amounts for the month of December.
Cash
$ 25,270
C. Camry, Withdrawals
$ 5,910
Accounts receivable
22,280
Consulting revenue
26,920
Office supplies
5,150
Rent expense
9,460
Office equipment
19,910
Salaries expense
5,510
Land
43,940
Telephone expense
760
Accounts payable
10,700
Miscellaneous expenses
430
C. Camry, Capital
101,000
Use the above information to prepare a December 31 balance sheet for Help Today. Hint: The ending C. Camry, Capital account
balance as of December 31 is $105,850.
Assets:
Cash
$
Accounts receivable
Office supplies
Office equipment
Land
HELP TODAY
Balance Sheet
Liabilities:
25,270
Accounts payable
$
22,280
5,150
Equity:
19,910
C. Camry, Capital
43,940
0
$
116,550
$
10,700
0
105,850
0
0
116,550