Susan Huang Corrected Financial Statements with Income Statement Statement of Changes in Equity and Balance Sheet Worked Solution

Susan Huang began the practice of law October 1, 2014, with an initial investment of $10,500 in cash. She made no withdrawals during the month. After completing the first month of practice, the financial statements were prepared by Ryan Player, the secretary/bookkeeper Ms. Huang had hired. Ms. Huang al-most burst out laughing when she saw them. She had completed a course in legal accounting in law school and knew the statements prepared by Mr. Player left much to be desired. Consequently, she asked you to revise the statements. The Player version is presented as follows:

Required