The income statement and statement of owner's equity for Jay Pembroke for the month ended April 30, 20-- are shown. Jay Pembroke Income Statement For Month Ended April 30, 20-- Revenues: Service fees Expenses: Rent expense Net income Jay Pembroke, capital, April 1, 20-- Investment during April Jay Pembroke Statement of Owner's Equity For Month Ended April 30, 20-- Total investment Net income for April Less withdrawals for April Increase in capital Jay Pembroke, capital, April 30, 20-- Cash Assets $3,600 ✓ 900 $2,700 Check My Work $2,700 Required: Use the information to prepare a balance sheet for Jay Pembroke as of April 30, 20--. Jay Pembroke Balance Sheet April 30, 20-- 150 $- 20,000 $20,000 2,550 $22,550 Liabilities. Accounts Payable ✓ Fmail Inst

The income statement and statement of owner's equity for Jay Pembroke for the month ended April 30, 20-- are shown. Jay Pembroke Income Statement For Month Ended April 30, 20-- Revenues: Service fees Expenses: Rent expense Net income Jay Pembroke, capital, April 1, 20-- Investment during April Jay Pembroke Statement of Owner's Equity For Month Ended April 30, 20-- Total investment Net income for April Less withdrawals for April Increase in capital Jay Pembroke, capital, April 30, 20-- Cash Assets $3,600 ✓ 900 $2,700 Check My Work $2,700 Required: Use the information to prepare a balance sheet for Jay Pembroke as of April 30, 20--. Jay Pembroke Balance Sheet April 30, 20-- 150 $- 20,000 $20,000 2,550 $22,550 Liabilities. Accounts Payable ✓ Fmail Inst

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts

Section: Chapter Questions

Problem 4PB: In March, T. Carter established Carter Delivery Service. The account headings are presented below....

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