$1$

$12$

$14$

$5$

$6$

$\backslash$table$[[$Transaction Amount owed for land purchase Apple sales: cash,Amount $$50,000,[$ Asset $],[$$$50,000],[$ Liability $],[$$$50,000],$Owner's Equity$],[$Apple sales: credit,$$3,000,$$$3,000,,$$$3,000],[$Collections of cred,, $000,$$$6,000,,$$$6,000],[$Cash purchase of equipment,$$4,000,,,],[$Owner investments,$10,000,$$$0,0,0],[$Wages expenses paid,$25,000,,,],[$Fuel expenses paid,$$400,,,],[$Amount owed for utility expense,,,,$],[,,$$$77,600,$$$51,000,$$$26,600]]$

PA$7.$ LO $2\mathrm{.}2$ Using the information in Exercise PA$6,$ determine the amount of revenue and expenses for Olivia's Apple Orchard for the month of September.

Solution

Revenue is:

Expenses are: