Question

Font Paragraph P1-2B Randy Coburm opened a law office, Randy Coburn, Attorney at Law, on July 1, 2017 balance sheet showed Cash $4,000, Accounts Receivable $1,500, Supplies $400, Equipment $5,000, Accounts Payable $4,200, Common Stock $6,000, and Retained Earnings $700. During August, the following transactions occurred. (Note: these balances are already in the working papers) Copyright e 2015 John Wiley & Sons, Inc. Weygandt. Financial and Managerial Accounting, 2/le. Solutions Manu atF inuctor Use Only) 1-1 2,700 5,000 400 6,000 14,100 700 7900 14,100 4,330 450 Instruction (b) Income Statement Fill in the amounts (in the center, subtotal right columns) and accnt namcs (oft

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Answer 1

			RANDY COBURN
		ASSETS	=		LIABILITIES		+		EQUITY
									Retained Earnings
S.N.	Cash	Accounts Receivable	Supplies	Equipment	Accounts Payable	Notes Payable	Share Capital	Retained Earnings	Revenue	Expenses	Dividends
	$     4,000.00	$                       1,500.00	$                                            400.00	$                         5,000.00	$                 4,200.00		$             6,000.00	$                 700.00
1)	$     1,400.00	$                      -1,400.00
2)	$   -2,700.00				$               -2,700.00
3)	$     3,000.00	$                       4,900.00							$                7,900.00
4)	$       -400.00			$                         1,000.00	$                     600.00
5)	$   -4,150.00									-4150
6)	$       -450.00										$   (450.00)
7)	$     2,000.00					$         2,000.00
8)	$       -180.00									-180
Total	$     2,520.00	$                       5,000.00	$                                            400.00	$                         6,000.00	$                 2,100.00	$         2,000.00	$             6,000.00	3,820.00	$                7,900.00	$      (4,330.00)	$   (450.00)