Homework Answers
| SUPER CLEANING COMPANY | ||||||||||||||||||
| Effect of Events on the Financial Statements | ||||||||||||||||||
| Balance Sheet | Income Statement | |||||||||||||||||
|
Event No. |
Assets | Liabilities | Stockholders' Equity | Revenue | - | Expenses | = | Net Income | ||||||||||
| Cash | + | accounts Receivable | + | Prepaid Rent | = | Account Payable | + | Unearned Revenue | + | Common Stock | + | Retained Earnings | ||||||
| 1 | 15,800 | + | + | = | + | + | 15,800 | = | - | = | ||||||||
| 2 | + | 13,800 | + | = | + | + | = | 13,800 | - | = | ||||||||
| 3 | 4,800 | + | + | = | + | + | = | 4,800 | - | = | ||||||||
| 4 | 3,200 | + | + | = | + | 3,200 | + | = | - | = | ||||||||
| 5 | 9,800 | + | (9,800) | + | = | + | + | = | - | = | ||||||||
| 6 | (5,800) | + | + | = | + | + | = | - | 5,800 | = | ||||||||
| 7 | + | + | = | + | (1,600) | + | = | 1,600 | - | = | ||||||||
| 8 | + | + | = | 2,300 | + | + | = | - | 2,300 | = | ||||||||
| 9 | (1,500) | + | + | 1,500 | = | + | + | = | - | = | ||||||||
| 10 | (1,950) | + | + | = | (1,950) | + | + | = | - | = | ||||||||
| 11 | (2,300) | + | + | = | + | + | = | (2,300) | - | = | ||||||||
| 12 | + | + | (1,125) | = | + | + | = | - | 1,125 | = | ||||||||
| 22,050 | + | 4,000 | + | 375 | = | 350 | + | 1600 | + | 15,800 | = | (2,300) | 20,200 | - | 9,225 | = | 10975 |
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