Accounts Debit Credit Cash $20,569 Prepaid Rent 6,000 Supplies 4,000 Building 15,000 Accounts Payable $2,000 Deferred...

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Accounts Debit Credit Cash $20,569 Prepaid Rent 6,000 Supplies 4,000 Building 15,000 Accounts Payable $2,000 Deferred Revenue

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Answer 1

Answer #1


*Net Income*
Revenues		20,569
Less:Expenses
Rent Expenses	1,000
Salaries Expenses	3,000
Utilities Expenses	1,000
Total Expenses		5,000
Net Income		15,569




*Statement of Stock Holder Equity*
Particulars	Common Stock	Retained Earnings	Total
Beginning Balance	6,000	12,000	18,000
Add:Additional Capital	-
Add:Net Income		15,569	15,569
Less:Dividend
*Closing Balance*	*6,000*	*27,569*	*33,569*

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Answer 2

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