Prob.1-4A(Concluded)2. 2. HALFMOONREALTY IncomeStatement FortheMonthEndedJuly31,2019 Salescommissions $41,500 Expenses: Salariesexpense $5,000 Rentexpense 3,600 Automobileexpense 3,050 Suppliesexpense 900 1,600 Miscellaneousexpense Totalexpenses 14,150 $27,350 Netincome HALFMOONREALTY StatementofOwner’sEquity FortheMonthEndedJuly31,2019 PatGlenn,capital,July1,2019 $ 0 InvestmentonJuly1,2019 $25,000 NetincomeforJuly 27,350 Withdrawals (4,000) 48,350 Increaseinowner’sequity $48,350 PatGlenn,capital,July31,2019 HALFMOONREALTY Assets Cash $48,050 Supplies 950 $49,000 Totalassets Liabilities Accountspayable $ 650 Owner’sEquity 48,350 PatGlenn,capital $49,000 Totalliabilitiesandowner’sequity Prob.1-5A 1. Assets = Liabilities + Owner’s Equity
Prob.1-4A(Concluded)2. 2. HALFMOONREALTY IncomeStatement FortheMonthEndedJuly31,2019 Salescommissions $41,500 Expenses: Salariesexpense $5,000 Rentexpense 3,600 Automobileexpense 3,050 Suppliesexpense 900 Miscellaneousexpense 1,600 Totalexpenses 14,150 Netincome $27,350 HALFMOONREALTY StatementofOwner’sEquity FortheMonthEndedJuly31,2019 PatGlenn,capital,July1,2019 $ 0 InvestmentonJuly1,2019 $25,000 NetincomeforJuly 27,350 Withdrawals (4,000) Increaseinowner’sequity 48,350 PatGlenn,capital,July31,2019 $48,350 HALFMOONREALTY Assets Cash $48,050 Supplies 950 Totalassets $49,000 Liabilities Accountspayable $ 650 Owner’sEquity PatGlenn,capital 48,350 Totalliabilitiesandowner’sequity $49,000 Prob.1-5A 1. Assets = Liabilities + Owner’s Equity
Solution-Manual-for-Financial-Accounting-15th-Edition-by-Warren.docx