Attributes of a sole proprietorship

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Below are accounts listed for September 2004 for PC Partners, a sole proprietorship that installs/repairs home computers for customers. The business is owned by Ed Connor. The accounts are listed in alphabetical order. For the month of September 2004, prepare an income statement, statement of changes in owner’s equity, and a balance sheet. Prepare them in proper form.ACCOUNT BALANCE Accounts Payable 4,200Accounts Receivable 8,480Advertising expense 420 Capital (Ed Connor) at 08/31/04 56,000Cash 35,460Entertainment Expense 600 Equipment 15,700Installation Revenue 15,600Miscellaneous Revenue 800 Photocopying Expense 150Rent Expense 1,300Repair Revenue 8,650Supplies 8,400Truck 8,500Unearned Revenue 760 Withdrawals (Connor) 7,000TOTAL 172,020

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