I have already answered this transaction; see this picture, but I'm...

I have already answered this transaction; see this picture, but I'm not sure if it's correct. Please make it right and answer the statement of income also.

subject: financial accounting

     

Transcribed Image Text:

TRANSACTIONS: Company was set up Jan 2. The owner contributed cash 20,000. Equipment 48,000. 1. Bought fumiture worth 6,000 on account 2. Bought xerox machine 20,000. Terms 50% down, balance on account 3. Hired helper on commission basis at 10% of sales 4. Withdraw 1,500 for personal use . 5. Bought supplies 3,000 6. Account in 1 is due. Owner paid in personal cash 7. Account in 7 is due. Owner issued 60-day promissory note JOURNAL: Dat e Jan 2 Cash Equipment Owner's Equity Particulars To record owner's owner's investment 1 Furniture Accounts Payable Purchased furniture on Account 2 Xerox Machine Cash PR DR CR 20,000 48,000 68,000 6,000 6,000 20,000 10,000 TRANSACTIONS: Company was set up Jan 2. The owner contributed cash 20,000. Equipment 48,000. 1. Bought fumiture worth 6,000 on account 2. Bought xerox machine 20,000. Terms 50% down, balance on account 3. Hired helper on commission basis at 10% of sales 4. Withdraw 1,500 for personal use . 5. Bought supplies 3,000 6. Account in 1 is due. Owner paid in personal cash 7. Account in 7 is due. Owner issued 60-day promissory note JOURNAL: Dat e Jan 2 Cash Equipment Owner's Equity Particulars To record owner's owner's investment 1 Furniture Accounts Payable Purchased furniture on Account 2 Xerox Machine Cash PR DR CR 20,000 48,000 68,000 6,000 6,000 20,000 10,000