ACCOUNTING $101$

CHAPTER $1$

ASSIGNMENT:

Please see the general ledger account information listed below for ACEE ACCOUNTING for it's first year ended December $31,2023$ and use it to make the following:

Income Statement $(7$ marks$)$;

Statement of Changes in Owner's Equity $(6$ marks$)$; and

Balance Sheet $(7$ marks$).$

Note that the list of accounts below is not in the expected order. You need to determine which accounts belong on each of the three statements that you have to make.

$\backslash$table$[[$Bank loan payable,$20,000],[$Wages expense,$10,000],[$Office supplies,$2,000],[$Computer equipment,$10,000],[$Averi Acee, withdrawals,$2,600],[$Accounts payable,$2,000],[$Accounts receivable,$5,000],[$Rent expense,$2,500],[$Averi Acee, capital $($investment$),40,000],[$Telephone expense,$500],[$Accounting fees earned,$5,000],[$Advertising expense,$2,000],[$Office supplies expense,$400],[$Wages payable,$5,000],[$Automotive equipment,$20,000],[$Cash$,17,000]]$