Question

Insurance Expense $ $ Service Revenue 4,500 70,000 1,400 16,000 9,000 7,200 Utilities Expense Rent Expense Common Stock Cash Retained Earnings, January 1, 2018 Salaries Expense Accounts Payable Office Supplies Dividends Accounts Receivable Equipment 46,000 17,600 1,700 4,800 8,000 12,100 5,100

Answer 1

	Balance Sheet
Assets				Liabilities
Cash			7,200	Accounts payable			17,600
Accounts receivable			8,000
Office supplies			1,700	Stockholder's Equity
Equipment			12,100	Common Stock			9,000
				Retained Earnings			2,400
				Total Stockholder's Equity			11,400
Total Assets			29,000	Total liabilities & stockholder's Equity			29,000