Homework Answers
Income statement:
| Particular | Amount | Particular | Amount |
| To supplies cost | 9400 | By sales(bal.fig.) | 221900 |
| To fee for services | 120000 | By Supplies at hand | 2700 |
| To Misc cost | 8700 | ||
| To interest cost | 3000 | ||
| To salary | 71500 | ||
| To rent | 12000 | ||
| 224600 | 224600 |
Balance Sheet:
| Assets | Amount | Liabilities | Amount |
| Account receivable | 17300 | Common stock | 60000 |
| Supplies at the end | 2700 | Account payable | 18500 |
| Equipments | 84400 | Notes payable | 30000 |
| Cash | 11200 | Retained Earning | 7100 |
| 115600 | 115600 |
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