Homework Answers
| Kris's Moving Co. | |||||
| Balance sheet | |||||
| Oct 31, 201X | |||||
| Assets | Liabilities and owner's equity | ||||
| Cash | $ 9,000 | Liabilities | |||
| Prepaid insurance | $ 2,500 | Accounts payable | $ 2,654 | ||
| Moving supplies | $ 1,000 | Wages payable | $ 270 | ||
| Moving truck | $ 10,000 | Total liabilities | $ 2,924 | ||
| Less: accumulated Dep. - Moving truck | $ (7,450) | $ 2,550 | Owner's equity | ||
| K. Homer, capital | 12,126 | ||||
| Total assets | $ 15,050 | Total liabilities and owner's equity | $ 15,050 |
calculation
| Statement of Owner's capital | |||
| For the month of Oct 31, 201X | |||
| Owner's capital, beginning | 11,472 | ||
| Add: net income | 2,554 | ||
| Less: withdrawals (if any) | (1,900) | ||
| Owner's capital, May 31, 2020 | 12,126 |
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Kris's Moving Co. Worksheet Month Ended October 31, 2018 Trial Balance Adjustments Adjusted Trial Balance Income...
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Kris's Moving Co. Worksheet Month Ended October 31, 2018 Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Titles Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Cash 9,000 9,000 9,000 2,600 a. 100 2,500 2,500 1,100 b. 100 1,000 1,000 10,000 10,000 10,000 Prepaid Insurance Moving Supplies Moving Truck Accum. Dep., Moving Truck Accounts Payable K. Homer, Capital K. Homer, Withdrawals 7,000 C. 450 7,450 7,450 2,654 2,654 2,654 11,472 11,472 11,472 1,900 1,900 1,900...
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