Question: Dear Tutor, The only thing you have to do is the balance sheet. The T-account and the journal entry are solve already. Please help me.
Dear Tutor, The only thing you have to do is the balance sheet. The T-account and the journal entry are solve already. Please help me. Thanks
Assets Total Assets Liabilities Total liabilities Owner's Equity Total Liabilities and Owner's Equity Revenue: Expense: Total Expense Net Income Owner's Capital, Beginning Less: Increase/(Decrease) in owner's equity Owner's capital, ending Accounting Principles 1010 or 1020 THIS ACCOUNT IS CURRENTLY RUNNING BALANCE DATE 1 ACCOUNT 7/1 Cash BALANCED 0.00 DEBIT ( + ) CREDIT ( - ) $15,000.00 Capital 2 7/1 $15,000.00 Rent Expense $4,000.00 Cash 3 7/1 $4,000.00 Janitorial services $400.00 Cash 4 7/1 $400.00 Supplies $870.00 Accounts payable 5 7/1 $870.00 Computer and printed $2,500.00 Accounts payable 6 7/1 $2,500.00 Accounting expenses $200.00 Cash 7 7/1 $200.00 Internet expense $25.00 Cash 8 7/1 $25.00 Cash $6,000.00 Architecture revenue 9 7/1 $6,000.00 Accounts receivable $15,000.00 Architecture revenue 10 7/1 $15,000.00 Stamp expenses $250.00 Accounts payable 11 7/1 $250.00 Advertising expense $175.00 Accounts payable 12 7/1 $175.00 Accounts receivable $2,500.00 Architecture revenue 13 7/1 $2,500.00 Cash $15,000.00 Accounts receivable 14 7/1 $15,000.00 Telephone expenses $250.00 Cash 15 7/1 $250.00 Utility bill $450.00 Cash 16 7/1 $450.00 Withdrawal $2,500.00 Cash 17 7/1 $2,500.00 Receptionist salary $2,400.00 Cash $2,400.00 Page 1 of 1 BALANCE Cash 15,000 6,000 15,000 36,000 Capital 4,000 400 200 25 250 450 2,500 2,400 15,000 Rent expense 4,000 15,000 Janitorial services 400 4,000 Supplies 870 Accounts payable 870 2,500 175 3,545 400 870 Architecture revenue 6,000 15,000 2,500 Accounts receivables 15,000 15,000 2,500 Advertising expenses 175 2,500 175 10,225 25,775 Computer and Printer 2,500 Accounting expenses 200 2,500 Internet expenses 25 200 25 23,500 Telephone expenses 250 250 Utility bill 250 withdrawal 2,500 250 Receptionist salary 2,400 2,500 2,400 Cash 15,000 6,000 15,000 36,000 4,000 400 200 25 250 450 2,500 2,400 Capital 15,000 Rent expense 4,000 15,000 Janitorial services 400 4,000 Supplies 870 400 870 Accounts payable 870 2,500 175 250 3,795 10,225 25,775 Computer and Printer 2,500 Accounting expenses 200 2,500 Telephone expenses 250 250 Internet expenses 25 200 Utility bill 450 25 withdrawal 2,500 450 Architecture revenue 6,000 15,000 2,500 23,500 2,400 Advertising expenses 175 Income Statement 23,500 4,000 400 200 25 175 250 450 2,400 250 Statement of Shareholders' Equity Capital balance Add: Net Income Less: Withdrawal Shareholders' Equity 8,150 15,350 15,000 15,350 (2,500) 27,850 Stamp Expense 250 250 175 Balance Sheet Assets Cash Supplies Accounts receivable Computer and printer Total Assets Liabilities and shareholders' equity Accounts payable 25,775 870 2,500 2,500 31,645 Shareholders' Equity Total Liabilities and shareholders equity 2,500 Receptionist salary 2,400 2,500 Accounts receivables 15,000 15,000 2,500 Revenue: Architecture revenue Expenses: Rent Janitor services Accounting Internet Advertising Telephone Utility Receiptionist salary Stamp Total expenses Net Income 27,850 31,645 3,795
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