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| Sharon Lee | Assets | = | Liabilities | + | Owner's Equity | ||||||||||||||
| Date | Cash | + | Accounts Receivable | + | Supplies | + | Equipment | = | Notes Payable | + | Accounts Payable | + | Owner's Capital | - | Owner's Drawings | - | Revenues | - | Expenses |
| Bal | 5,500.00 | + | 1,800.00 | + | 500.00 | + | 6,200.00 | = | - | + | 4,200.00 | + | 9,800.00 | - | - | - | - | - | - |
| 1 | 1,500.00 | + | (1,500.00) | + | - | + | - | = | - | + | - | + | - | - | - | - | - | - | - |
| 2 | (2,500.00) | + | - | + | - | + | - | = | - | + | (2,500.00) | + | - | - | - | - | - | - | - |
| 3 | 1,700.00 | + | 1,700.00 | + | - | + | - | = | - | + | - | + | - | - | - | - | 3,400.00 | - | - |
| 4 | (300.00) | + | - | + | - | + | 2,000.00 | = | - | + | 1,700.00 | + | - | - | - | - | - | - | - |
| 5 | (3,350.00) | + | - | + | - | + | - | = | - | + | - | + | - | - | - | - | - | - | 3,350.00 |
| 6 | (1,100.00) | + | - | + | - | + | - | = | - | + | - | + | - | - | 1,100.00 | - | - | - | - |
| 7 | 1,700.00 | + | - | + | - | + | - | = | 1,700.00 | + | - | + | - | - | - | - | - | - | - |
| 8 | - | + | - | + | - | + | - | = | - | + | 330.00 | + | - | - | - | - | - | - | 330.00 |
| $ 3,150.00 | + | $ 2,000.00 | + | $ 500.00 | + | $ 8,200.00 | = | $ 1,700.00 | + | $ 3,730.00 | $ 9,800.00 | $ 1,100.00 | $ 3,400.00 | $ 3,680.00 |
| Income Statement | Amount $ |
| Revenue | 3,400.00 |
| Total Revenue | 3,400.00 |
| Less: Expenses | |
| Salaries | 2,000.00 |
| Rent | 1,000.00 |
| Advertising Expense | 350.00 |
| Utility Expense | 330.00 |
| Total Expenses | 3,680.00 |
| Net Income | (280.00) |
| Owner's Equity Statement | Amount $ |
| Opening Owner's Capital | 9,800.00 |
| Add: Net Income | (280.00) |
| Less: Owner's Drawings | 1,100.00 |
| Owner's Equity | 8,420.00 |
| Balance Sheet | |
| Assets | Amount $ |
| Cash | 3,150.00 |
| Accounts Receivable | 2,000.00 |
| Office Supplies | 500.00 |
| Equipment | 8,200.00 |
| Total Assets | 13,850.00 |
| Liabilities | |
| Accounts Payable | 3,730.00 |
| Notes Payable | 1,700.00 |
| Total Liabilities | 5,430.00 |
| Owner's Equity | 8,420.00 |
| Total Equity | 8,420.00 |
| Total Liabilities & Equity | 13,850.00 |
Add Answer to:
et- 3 ( eo) 22.50 ADAM UITO TEXT LINK TO TEXT Prepare an income statement for...
22.50 Ro Pu 1 est n c hected cash and the t for 12.000 100 cash...
22.50 Ro Pu 1 est n c hected cash and the t for 12.000 100 cash and the 1.000 and 350 3 2.000 de oro AD We were unable to transcribe this imagePrepare an owner's equity statement for August. (List items that increase owner's equity first.) tudy. SHARON LEE, ATTORNEY AT LAW Owner's Equity Statement LINK TO TEXT UNK TO TEXT Prepare a balance sheet at August 31. (List Assets in order of liquidity.) SHARON LEE, ATTORNEY AT LAW Balance...
Problem 1-04A -c (Video) Unda Williams started her own consulting firm, ukumber Consulting on May 1,...
Problem 1-04A -c (Video) Unda Williams started her own consulting firm, ukumber Consulting on May 1, 2020. The following transactions occurred during the month of May. My 1 The invested $7.000 cash in the business 2 Puld 5800 for office rent for the month 1 Purchased $700 of lies on our 5 Pald $200 to advertise in the County 9 Received 54,400 cash for services performed 12 With $1,000 cash for personal 15 Performed $5.900 of Services on court. 17...
Judi Salem opened a law office on July 1, 2017. On July 31, the balance sheet...
Judi Salem opened a law office on July 1, 2017. On July 31, the
balance sheet showed Cash $5,000, Accounts Receivable $1,700,
Supplies $500, Equipment $5,700, Accounts Payable $3,600, and
Owner’s Capital $9,300. During August, the following transactions
occurred.
1.
Collected $1,400 of accounts receivable.
2.
Paid $2,800 cash on accounts payable.
3.
Recognized revenue of $7,700, of which $2,500 is collected in
cash and the balance is due in September.
4.
Purchased additional equipment for $2,100, paying $500 in...
this is one long question 2:42 PM Thu Jan 30 98% WileyPlus memo.docx Wiley PLUS WileyPLUS:...
this is one long question
2:42 PM Thu Jan 30 98% WileyPlus memo.docx Wiley PLUS WileyPLUS: MywileyPLUS Help Contact Us Log Out Weygandt, Accounting Principles, 13e PRINCIPLES OF ACCT ISIT (ACC 114/121) CALCULATOR STANDARD VIEW PRINTER VERSION BACK NEXT Problem 1-02A a,b1-b3 (Video) Michelle Walker opened a law office on July 1, 2020. On July 31, the balance sheet showed Cash $5,300, Accounts Receivable $2,000, Accounts Payable $3,500, and Owner's Capital $10,400. During August, the following transactions occurred. 1. Collected...
View Policies Current Attempt in Progress Nancy Jackson opened a law office on July 1, 2020....
View Policies Current Attempt in Progress Nancy Jackson opened a law office on July 1, 2020. On July 31, the balance sheet showed Cash $5,200, Accounts Receivable $1,900, Supplies $500, Equipment $6,300, Accounts Payable $4,300, and Owner's Capital $9,600. During August, the following transactions occurred. 1. Collected $1,600 of accounts receivable. 2. Paid $2,800 cash on accounts payable. 3. Recognized revenue of $8,500, of which $3,200 is collected in cash and the balance is due in September. Purchased additional equipment...
The adjusted trial balance for Sunland Company is given below: Prepare the income statement for the...
The adjusted trial balance for Sunland Company is given below:
Prepare the income statement for the year ended August 31.
Prepare the retained earnings statements for the year ended August 31. (List items that increase retained earnings first.)
Prepare the classified balance sheet at August 31. (List Current Assets in order of liquidity.)
a) Prepare a multiple-step income statement b) Prepare a owner's equity statement for January (list items...
a) Prepare a multiple-step income statement
b) Prepare a owner's equity statement for January
(list items that increase owner's equity first)
c) Prepare a classified balance sheet at the end of
January (list current assets in order of liquidity)
Prepare a trial balance at January 31, 2020, in the trial balance columns of the worksheet. Complete the worksheet using the following additional information. 1. Office supplies at January 31 total $900. 2. Insurance coverage expires on October 31, 2020. 3....
inment CALCULATOR FI Exercise 2-8 These financial statement items are for Nash's Trading Post, LLC at...
inment CALCULATOR FI Exercise 2-8 These financial statement items are for Nash's Trading Post, LLC at year-end, July 31, 2017. Salaries and wages payable $ 3,080 Salaries and wages expense 58,500 Supplies expense 16,600 Equipment 19,500 Accounts payable 4,100 Service revenue 67,100 Rent revenue 9,500 Notes payable (due in 2020) 2,800 Common stock 16,000 Cash 30,200 Accounts receivable 10,780 Accumulated depreciation-equipment 7,000 Dividends 4,000 Depreciation expense 5,000 Retained earnings (beginning of the year) 35,000 Prepare an income statement for the...
Help needed with balance sheet please. Question 1 of 5 0.67/1 View Policies Show Attempt History...
Help needed with balance sheet please.
Question 1 of 5 0.67/1 View Policies Show Attempt History Current Attempt in Progress The adjusted trial balance for Carla Vista Company is shown below. $10,500 CARLA VISTA COMPANY Trial Balance August 31, 2020 Before Adjustment Dr. Cr. Cash Accounts Receivable 8,600 Supplies 2.300 Prepaid Insurance 3,900 Equipment 13,000 Accumulated Depreciation Equipment $ 3,700 Accounts Payable 5.900 Salaries and Wages Payable 0 Unearned Rent Revenue 1,400 Owner's Capital 13,900 Service Revenue 34,200 Rent Revenue...
An analysis of the transactions made by Sandhill & Co., a certified public accounting firm, for...
An analysis of the transactions made by Sandhill & Co., a
certified public accounting firm, for the month of August is shown
below. The expenses were $550 for rent, $4,300 for salaries and
wages, and $500 for utilities.
Cash
+
Accounts
Receivable
+
Supplies
+
Equipment
=
Accounts
Payable
+
Owner’s
Capital
–
Owner’s
Drawings
+
Revenues
–
Expenses
1.
$14,600
$14,600
2.
–2,900
$5,000
$2,100
3.
–850
$850
4.
5,400
$3,000
$8,400
5.
–1,600
–1,600
6.
–1,400
–$1,400
7....
22.50 Ro Pu 1 est n c hected cash and the t for 12.000 100 cash and the 1.000 and 350 3 2.000 de oro AD We were unable to transcribe this imagePrepare an owner's equity statement for August. (List items that increase owner's equity first.) tudy. SHARON LEE, ATTORNEY AT LAW Owner's Equity Statement LINK TO TEXT UNK TO TEXT Prepare a balance sheet at August 31. (List Assets in order of liquidity.) SHARON LEE, ATTORNEY AT LAW Balance...
Problem 1-04A -c (Video) Unda Williams started her own consulting firm, ukumber Consulting on May 1, 2020. The following transactions occurred during the month of May. My 1 The invested $7.000 cash in the business 2 Puld 5800 for office rent for the month 1 Purchased $700 of lies on our 5 Pald $200 to advertise in the County 9 Received 54,400 cash for services performed 12 With $1,000 cash for personal 15 Performed $5.900 of Services on court. 17...
Judi Salem opened a law office on July 1, 2017. On July 31, the
balance sheet showed Cash $5,000, Accounts Receivable $1,700,
Supplies $500, Equipment $5,700, Accounts Payable $3,600, and
Owner’s Capital $9,300. During August, the following transactions
occurred.
1.
Collected $1,400 of accounts receivable.
2.
Paid $2,800 cash on accounts payable.
3.
Recognized revenue of $7,700, of which $2,500 is collected in
cash and the balance is due in September.
4.
Purchased additional equipment for $2,100, paying $500 in...
this is one long question
2:42 PM Thu Jan 30 98% WileyPlus memo.docx Wiley PLUS WileyPLUS: MywileyPLUS Help Contact Us Log Out Weygandt, Accounting Principles, 13e PRINCIPLES OF ACCT ISIT (ACC 114/121) CALCULATOR STANDARD VIEW PRINTER VERSION BACK NEXT Problem 1-02A a,b1-b3 (Video) Michelle Walker opened a law office on July 1, 2020. On July 31, the balance sheet showed Cash $5,300, Accounts Receivable $2,000, Accounts Payable $3,500, and Owner's Capital $10,400. During August, the following transactions occurred. 1. Collected...
View Policies Current Attempt in Progress Nancy Jackson opened a law office on July 1, 2020. On July 31, the balance sheet showed Cash $5,200, Accounts Receivable $1,900, Supplies $500, Equipment $6,300, Accounts Payable $4,300, and Owner's Capital $9,600. During August, the following transactions occurred. 1. Collected $1,600 of accounts receivable. 2. Paid $2,800 cash on accounts payable. 3. Recognized revenue of $8,500, of which $3,200 is collected in cash and the balance is due in September. Purchased additional equipment...
The adjusted trial balance for Sunland Company is given below:
Prepare the income statement for the year ended August 31.
Prepare the retained earnings statements for the year ended August 31. (List items that increase retained earnings first.)
Prepare the classified balance sheet at August 31. (List Current Assets in order of liquidity.)
a) Prepare a multiple-step income statement
b) Prepare a owner's equity statement for January
(list items that increase owner's equity first)
c) Prepare a classified balance sheet at the end of
January (list current assets in order of liquidity)
Prepare a trial balance at January 31, 2020, in the trial balance columns of the worksheet. Complete the worksheet using the following additional information. 1. Office supplies at January 31 total $900. 2. Insurance coverage expires on October 31, 2020. 3....
inment CALCULATOR FI Exercise 2-8 These financial statement items are for Nash's Trading Post, LLC at year-end, July 31, 2017. Salaries and wages payable $ 3,080 Salaries and wages expense 58,500 Supplies expense 16,600 Equipment 19,500 Accounts payable 4,100 Service revenue 67,100 Rent revenue 9,500 Notes payable (due in 2020) 2,800 Common stock 16,000 Cash 30,200 Accounts receivable 10,780 Accumulated depreciation-equipment 7,000 Dividends 4,000 Depreciation expense 5,000 Retained earnings (beginning of the year) 35,000 Prepare an income statement for the...
Help needed with balance sheet please.
Question 1 of 5 0.67/1 View Policies Show Attempt History Current Attempt in Progress The adjusted trial balance for Carla Vista Company is shown below. $10,500 CARLA VISTA COMPANY Trial Balance August 31, 2020 Before Adjustment Dr. Cr. Cash Accounts Receivable 8,600 Supplies 2.300 Prepaid Insurance 3,900 Equipment 13,000 Accumulated Depreciation Equipment $ 3,700 Accounts Payable 5.900 Salaries and Wages Payable 0 Unearned Rent Revenue 1,400 Owner's Capital 13,900 Service Revenue 34,200 Rent Revenue...
An analysis of the transactions made by Sandhill & Co., a
certified public accounting firm, for the month of August is shown
below. The expenses were $550 for rent, $4,300 for salaries and
wages, and $500 for utilities.
Cash
+
Accounts
Receivable
+
Supplies
+
Equipment
=
Accounts
Payable
+
Owner’s
Capital
–
Owner’s
Drawings
+
Revenues
–
Expenses
1.
$14,600
$14,600
2.
–2,900
$5,000
$2,100
3.
–850
$850
4.
5,400
$3,000
$8,400
5.
–1,600
–1,600
6.
–1,400
–$1,400
7....
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