Prepare a balance sheet and income statement as a result of the following transactions: a. Deposit...
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Prepare a balance sheet and income statement as a result of the following transactions: a. Deposit $3000 in a bank account as a result of a sale. b. Rent a van at a cost of $400, paid now. C. Purchase equipment: a power sweeper for $900, paid upon sale d. Order 2000 marketing brochures and pay the printer $120 e. Purchase $300 worth of cleaning supplies, with cash f. Bought equipment worth $900; paid $200 now and will pay the balance later. g. Earned $350 for washing windows, paid upon completion h. Earned and received $900 in fees for work performed i. Purchased supplies for $80, with cash j. Hired a helper and paid him $240 k. Earned $400 for work; payment will be received later. 1. Owner withdrew $1000 from the business for personal use m. Received a phone bill for $20, and payment will be made later. n. Paid the landlord $300 for rent o. Received $2000 for work performed. Prepare a balance sheet and income statement as a result of the following transactions: a. Deposit $3000 in a bank account as a result of a sale. b. Rent a van at a cost of $400, paid now. C. Purchase equipment: a power sweeper for $900, paid upon sale d. Order 2000 marketing brochures and pay the printer $120 e. Purchase $300 worth of cleaning supplies, with cash f. Bought equipment worth $900; paid $200 now and will pay the balance later. g. Earned $350 for washing windows, paid upon completion h. Earned and received $900 in fees for work performed i. Purchased supplies for $80, with cash j. Hired a helper and paid him $240 k. Earned $400 for work; payment will be received later. 1. Owner withdrew $1000 from the business for personal use m. Received a phone bill for $20, and payment will be made later. n. Paid the landlord $300 for rent o. Received $2000 for work performed.
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Income Statement For the Period Ended Date Particulars Amount Amount Service reven... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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