Financial Statements
The following account balances are for Carl Nicholson, Certified Public Accountant, as of April 30, 2016.
INSTRUCTIONS
Using the accounting equation form, determine the balance for Carl Nicholson, Capital, April 1, 2016. Prepare an income statement for the month of April, a statement of owner’s equity, and a balance sheet as of April 30, 2016. List the expenses on the income statement in alphabetical order.
Analyze: What net change in owner’s equity occurred during the month of April?
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