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PROBLEM 2C-5., Cont. Full file at https://testbankuniv.eu/College-Accounting-A-Practical-Approach-Canadian-12th-Edition-Slater-Solutions-Manual 5.(a) CLARA’S DESIGN SERVICE INCOME STATEMENT FOR THE MONTH ENDED MARCH 31, 2017 Revenue: Design Fees Earned

$10 2 0 0 0 0

Operating Expenses: Advertising Expense Repair Expense Salaries Expense Telephone Expense Total Operating Exenses Net Income

$1 1 3 1 7 1

5 2 2 5

0 0 0 0

00 00 00 00 3 3 4 0 00 $6 8 6 0 0 0

5.(b)

CLARA’S DESIGN SERVICE STATEMENT OF OWNER’S EQUITY FOR THE MONTH ENDED MARCH 31, 2017

Clara Benson, Capital, March 1, 2017 Net Income for March Less: Withdrawals for March Increase in Capital Clara Benson, Capital, March 31, 2017

5.(c)

$33 0 0 0 0 0 $6 8 6 0 0 0 6 6 00 6 7 9 4 00 $39 7 9 4 0 0

CLARA’S DESIGN SERVICE BALANCE SHEET MARCH 31, 2017 ASSETS

LIABILITIES AND OWNER’S EQUITY

Assets: Cash Accounts Receivable Office Equipment Design Equipment

$34 6 2 3 3 3 14 0

Total Assets

$54 2 4 4 0 0

4 0 0 0

4 0 0 0

Liabilities: 00 Accounts Payable 00 0 0 Owner’s Equity: 00 Clara Benson, Capital Total Liabilities and Owner’s Equity

$14 4 5 0 0 0

39 7 9 4 0 0

$54 2 4 4 0 0

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College Accounting A Practical Approach Canadian 12th Edition Slater Solutions Manual  

Full file at https://testbankuniv.eu/College-Accounting-A-Practical-Approach-Canadian-12th-Edition-Slater-Solutions-Manual

College Accounting A Practical Approach Canadian 12th Edition Slater Solutions Manual  

Full file at https://testbankuniv.eu/College-Accounting-A-Practical-Approach-Canadian-12th-Edition-Slater-Solutions-Manual

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