Question

owner invested $1,000 to start a business
bought office supplies $200 at office max
provided consulting service $2,000
bought computer $1,000 on acc at best buy
recieved partial payment $1,000
paid office rent $350
provided consulting service $2,000
paid best buy $200

I need the t account
balance sheet
income statement
journal entry

Answer 1

Journal Entry

Account	Debit	Credit
Cash	$    1,000
Common Stock		$    1,000
(Invested 1,000 to start business)
Office Supplies	$       200
Cash		$       200
(Purchased office supplies)
Accounts Receivable	$    2,000
Service Revenue		$    2,000
(Consulting services provided)
Computer	$    1,000
Accounts Payable		$    1,000
(Computer puchased on account)
Cash	$    1,000
Accounts Receivable		$    1,000
(Payment received)
Office Rent	$       350
Cash		$       350
(Office rent paid)
Accounts Receivable	$    2,000
Service Revenue		$    2,000
(Consulting services provided)
Accounts Payable	$       200
Cash		$       200

Income Statement

Income Statement
Revenue
Service Revenue	$    4,000
Expenses
Office Rent	$       350
Supplies	$       200
Total Expenses	$       550
Net Income	$    3,450

Balance Sheet
Assets
Current Assets
Cash	$    1,250
Accounts Receivable	$    3,000
	$    4,250
Computer	$    1,000
Total Assets	$    5,250
Liabilities
Accounts Payable	$       800
Equity
Common Stock	$    1,000
Retained Earnings	$    3,450
Total Equity	$    4,450
Total Liabilities and Equity	$    5,250

Cash
Common Stock	1000	Office Supplies	200
Accounts receivable	1000	Rent	350
		Accounts payable	200
		Balance	1250
	2000		2000
Accounts Receivable
Service Revenue	2000	Cash	1000
Service Revenue	2000
		Balance	3000
	4000		4000
Accounts Payable
Cash	200	Computer	1000
Balance	800
	1000		1000