Analyze the transactions for Information Resource Services, Inc., that appear in the worksheet on the following page
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Assets = Liabilities Shareholders' Equity ntributed Retained Earnings Capital All other All Commor stock Transaction Cash assets (Account) liabilities (Account) (Account) 1. $115,000 $115,000 2. (112,500112,500 Property, plant, and equipment 3. 85,000 85,000 Notes payable 4. (1,000)| 1,000 Supplies 5. (825) 825 Prepaid rent 6. 13,150 Accounts 13,150 Service revenue receivable (G15) Supplies (615) Supplies expense (275) Rent expense (795) Salary expense 8. (275) Prepaid rent 795 Salaries payable (1,500) Accumulated depreciation 10. (1,500) Depreciation 50 Interest payable (50) Interest expense -Income Statement Statement of Changes in Shareholders' Equity Balance SheetStatement of Cash Flows
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1 Information Resource Services Inc was formed when the owners contributed 115000 ...View the full answer
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Related Book For
Financial Accounting: A Business Process Approach
ISBN: 978-0136115274
3rd edition
Authors: Jane L. Reimers
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