Question

4 September 30, 2018 financial position - X = Assets Accounts + Receivable + Supplies 3,500 Liabilities Accounts Payable 7,600 Stockholders' Equity Common Retained Stock + Earnings 6.200 3.850 = + Cash Bal 2,150 - Equipment 12,000 Print Done

Answer 1

1.

	Assets				Liabilities	Stockholders' Equity
	Cash	Accounts Receivable	Supplies	Equipment	Accounts Payable	Common Stock	Retained Earnings	Type of Equity Transaction
Bal.	2,150	3,500		12,000	7,600	6,200	3,850
a.	4,100					4,100		Contributed Capital
b.	6,100						6,100	Revenue
c.	(4,100)				(4,100)
d.			1,000		1,000
e.	1,600	(1,600)
f.		4,800					4,800	Revenue
g.	(2,400)						(2,400)	Expense
h.	(3,300)						(3,300)	Dividends
Bal.	4,150	6,700	1,000	12,000	4,500	10,300	9,050

2.

Matz Computing Inc. Income Statement For the month ended October 31, 2018
Revenues
Service Revenue		$ 10,900
Expenses
Rent Expense	$ 1,600
Advertising Expense	800
Total Expenses		2,400
Net Income		$ 8,500

3.

Matz Computing Inc. Statement of Retained Earnings For the month ended October 31, 2018
Retained Earnings, October 1	$ 3,850
Add: Net Income	8,500
Subtotal	12,350
Less: Dividends	3,300
Retained Earnings, October 31	$ 9,050

4.

Matz Computing Inc. Balance Sheet October 31, 2018
Assets		Liabilities
Cash	$ 4,150	Accounts Payable	$ 4,500
Accounts Receivable	6,700	Total Liabilities	4,500
Supplies	1,000
Equipment	12,000	Stockholders Equity
		Common Stock	10,300
		Retained Earnings	9,050
		Total Stockholders Equity	19,350
Total Assets	$23,850	Total Liabilities and Stockholders' Equity	$ 23,850