CODCONCDO 1000000000000 dbdddoocecdd [][][][][][]D[][][][][][][][][][] 11

Question

Question

Answer 1

Answer #1

1) Accounting Equation:
	Assets			Equal To	Liabilities +	Stock holder's Equity
Item	Cash +	AR +	Suppl.	Equal To	AP +	Capital Stock -	Dividend +	Fees earned -	Rent Exp -	Sal. Exp. -	Supp. Exp -	Auto exp. -	Misc. exp
a	50000			Equal To		50000
b			2110	Equal To	2110
Balance	50000	0	2110	Equal To	2110	50000	0	0	0	0	0	0	0
c	5990			Equal To				5990
Balance	55990	0	2110	Equal To	2110	50000	0	5990	0	0	0	0	0
d	-2590			Equal To					-2590
Balance	53400	0	2110	Equal To	2110	50000	0	5990	-2590	0	0	0	0
e	-960			Equal To	-960
Balance	52440	0	2110	Equal To	1150	50000	0	5990	-2590	0	0	0	0
f		4790		Equal To				4790
Balance	52440	4790	2110	Equal To	1150	50000	0	10780	-2590	0	0	0	0
g	-860			Equal To								-570	-290
Balance	51580	4790	2110	Equal To	1150	50000	0	10780	-2590	0	0	-570	-290
h	-1820			Equal To						-1820
Balance	49760	4790	2110	Equal To	1150	50000	0	10780	-2590	-1820	0	-570	-290
I			-860	Equal To							-860
Balance	49760	4790	1250	Equal To	1150	50000	0	10780	-2590	-1820	-860	-570	-290
j	-1720			Equal To			-1720
Balance	48040	4790	1250	Equal To	1150	50000	-1720	10780	-2590	-1820	-860	-570	-290
G. total			54080	Equal To	54080


2) INCREASE , DECREASE

3) Net Income for June : 10780 -2590-1820-860-570-290 = 4650

4) June's transactions has increased the RE by $2930 (ie. 4650-1720)

Answer 2

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