1. Use the following information to prepare 1) an income statement, 2) a statement of owner's equity for the month ended March 31, 2022, and 3) a balance sheet at March 31, 2022 for Bolthouse Company.

J. Bolthouse, Capital (beg.)	$2,000
Revenue	900
Expenses	600
Withdrawals	150
Cash	3,000
Equipment	1,000
Accounts Receivable	150
Accounts Payable	2,000

2. Following are the five steps in analyzing business transactions. Apply the five steps in analyzing the following transaction:

Earned $100 for interest on our bank account, to be paid later.

1. Which accounts are affected?
2. To which categories do the accounts belong?
3. Are the accounts increasing or decreasing? How much?
4. What are the debit and credit rules?
5. On what side of the accounts do the amounts belong?

Answer rating: 100% (QA)

Answer 1 1 Bolthouse Company Income Statement For the year ended March 31 2022 Particulars Amount in ... View the full answer