Use the information in Exercise 2-7 (if completed, you can also use your solution to Exercise 2-8) to prepare
an October 31 balance sheet for Real Answers.
EXERCISE 2-7
Use the information in Exercise 2-7 to prepare an October statement of owner’s equity for Real Answers.
Exercise 2-7
On October 1, Keisha King organized Real Answers, a new consulting firm. On October 31, the company’s records show the following items and amounts. Use this information to prepare an October income statement for the business.
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