ZuoTi.Pro
Question

The table below shows the transactions for Sawyer Architecture Services during June. Greg Sawyer opened this business on...

The table below shows the transactions for Sawyer Architecture Services during June. Greg Sawyer opened this business on June 1 with a capital investment of $68,000 (Transaction 1). Prepare the balance sheet as of June 30

Assets = Liab. + Owner's Equity
Transaction Cash Accts.
Rec.		 Supp. Equip. Accts.
Pay.		 G. Sawyer,
Capital		 Rev. Exp.
1 +68,000 +68,000
2 − 7,400 +7,400
3 +4,400 +4,400
4 +2,880 +2,880
5 −3,100 −3,100
6 + 590 −590
7 −1,600 −1,600
8 −370 +370
Bal 56,120 + 3,810 + 370 + 10,280 = 2,880 + 66,400 + 4,400 − 3,100
business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Balance Sheet as on June 30 :-

LIABILITIES Amount ($) ASSETS Amount ($)
Owner's Equity 67,700 Cash 56,120
G. Sawyer's capital $66,400 Accounts Receivable 3,810
Add: Rev. $4,400 Supp. 370
Less: Exp. $3,100 Equipment 10,280
Accounts Payable 2,880
TOTAL 70,580 TOTAL 70,580
0 0
Add a comment
Know the answer?
Add Answer to:
The table below shows the transactions for Sawyer Architecture Services during June. Greg Sawyer opened this business on...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • The table below shows the transactions for Sawyer Architecture Services during June. Greg Sawyer opened this...

    The table below shows the transactions for Sawyer Architecture Services during June. Greg Sawyer opened this business on June 1 with a capital investment of $68,000 (Transaction 1). Assets Accts. Rec. Supp. = Liab. + Accts. Equip. Pay. Owner's Equity G. Sawyer, Capital +68,000 Transaction Rev. Exp. Cash +68,000 - 7,400 WNH +7,400 +4,400 +4,400 +2,880 +2,880 -3,180 -3, 100 + 590 -590 -1,600 - 370 56,120+ 3,810+ -1,600 DO Bal +370 370+ 10,289 2,880 + 66,400 + 4,400 -...

  • The table below shows the transactions for Sawyer Architecture Services during June. Greg Sawyer opened this...

    The table below shows the transactions for Sawyer Architecture Services during June. Greg Sawyer opened this business on June 1 with a capital investment of $68,000 (Transaction 1). Assets Accts. Rec. Supp. Liab. + Accts. Pay. Transaction Equip. Owner's Equity G. Sawyer, Capital Rev. +68,000 Exp. Cash +68,000 - 7,400 HNM +7,400 +4,400 +4,4ee +2,880 +2,888 -3, 100 -590 -3, 100 + 590 -1,600 -370 56,120+ -1,600 00 +370 370 + 10, 280 = Bal 3,810 + 2,880 + 66,40e...

  • The table below shows the transactions for Sawyer Architecture Services during June. Greg Sawyer opened this...

    The table below shows the transactions for Sawyer Architecture Services during June. Greg Sawyer opened this business on June 1 with a capital investment of $75,500 (Transaction 1). Assets = Liab. + Owner's Equity Transaction Cash Accts. Rec. Supp. Equip. Accts. Pay. G. Sawyer, Capital Rev. Exp. 1 +75,500 +75,500 2 − 8,900 +8,900 3 +5,900 +5,900 4 +4,380 +4,380 5 −3,850 −3,850 6 + 740 −740 7 −3,100 −3,100 8 −520 +520 Bal 59,870 + 5,160 + 520 +...

  • Required information The table below shows the transactions for Sawyer Architecture Services during June. Greg Sawyer...

    Required information The table below shows the transactions for Sawyer Architecture Services during June. Greg Sawyer opened this business on June 1 with a capital investment of $78,000 (Transaction 1) Liab. + Accts. Pay Assets Owner 's Equity Accts G. Sawyer, Capital +78,000 Transaction Cash Rec. Supp. Equip. Rev. Exp +78,000 -8,200 +8,200 +5,200 +5,200 +3,680 +3,680 -3,500 +670 2,400 450 -3,500 -670 -2,400 +450 Bal 64,120+4,530 450+ 11,8803,680+75,600 5,2003,500 What was the net income or net loss for Sawyer...

  • The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned...

    The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned by Taylor Cotton. Assets = Liab. + Owner’s Equity Cash + Accts. Rec. + Supp. + Equip. = Accts. Pay. + T.Cotton, Capital + Rev. − Exp. Balances, May 1 16,000 + 4,000 + 6,800 + 34,800 = 8,000 + 53,600 + 0 − 0 Paid for utilities − 780 + 780 New balances 15,220 + 4,000 + 6,800 + 34,800 = 8,000 +...

  • Wk 1. Apply: Connect Exercise (due Mon) Cullen Beatty plans to start a consulting business Cullen...

    Wk 1. Apply: Connect Exercise (due Mon) Cullen Beatty plans to start a consulting business Cullen Consulting Services. In preparation to do this, on April 1. 2019, he invested $46,500 in cash and $15,500 in equipment, and opened an account at Office Plus by purchasing $1,150 in office supplies which is due by the end of the month. He then signed a one-year lease agreement on an office building for $5,300, paying the full amount in advance. Prepare a Balance...

  • The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned...

    The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned by Taylor Cotton Assets Accts. Rec. + Supp. + Equip. = 3,000 + 5,800 + 33,800 = Liab. + Owner's Equity Accts. T.Cotton, Pay. + Capital + Rev. - 7,000 + 50,600 + 0 - Exp. 3,000 + 5,800 + 33,800 = 7,000 + 50.600 + + 980 980 Cash + 15,000 + - 980 14,020 + + 4.980 19.000 + -2,100 16,900 +...

  • The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned...

    The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned by Taylor Cotton. The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned by Taylor Cotton. Assets Accts. Rec + Supp. + Equip. - 3,200 + 6,000 + 34,000 = Liab. + Owner's Equity Accts. T. Cotton, Pay. + Capital + Rev. 7, 200 + 51,200 + 0 - Exp. 0 + 860 860 3,200.+ 6,000 + 34,000...

  • The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned...

    The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned by Taylor Cotton Liab.+ Accts. T.Cotton, Assets Owner's Equity Accts. Cash + Rec. + Supp. +Equip. = Pay. + Capital + Rev. - Exp. Balances, May1 Paid for utilities New balances Sold services for cash New balances Paid a creditor New balances Sold services on credit New balances Paid salaries New balances Paid telephone bill New balances 15, 700 3, 700 6,500 34,500 7,...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT