Modine Consulting Statements (version 1)

Modine Consulting Statements (version 1) - Supplies 5,000...

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Rachel Tornberg Modine Consulting Income Statement For the Month Ended May 31, 2008 Service Revenue 9,000 Expenses: Salary Expense 3,840 Rent Expense 1,000 Supply Expense 500 Travel Expense 200 Insurance Expense 200 Depreciation Expense - Office Furn. 160 Total Expenses 5,900 Net Income 3,100 Modine Consulting Owner's Equity Statement For the Month Ended May 31, 2008 Capital May 1 0 Add: Investments 19,100 Net Income 3,100 Subtotal 22,200 Less: Drawings 0 Capital 5/31/08 22,200 Modine Consulting Balanc For the Month Ending Current Assets Cash 7,700 Assets
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Unformatted text preview: Supplies 5,000 Accounts Receivable 1,000 Prepaid Insurance 4,600 Total Current Assets 18,300 Property, Plant, Equipment Office Furniture 9,600 Less: Accum. Depreciation 160 9,440 Total Assets 27,740 Current Creditor Equity Accounts Payable 3,500 Unearned Service Rev 1,000 Travel Payable 200 Salary Payable 840 Total Current Creditor Equity 5,540 Total Creditor Equity 5,540 Owner Capital 22,200 Total Creditor and Owner's Equity 27,740 Creditor Equity Owner Equity...
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Modine Consulting Statements (version 1) - Supplies 5,000...

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