Acct HW 3 - 2-25:Balance SheetAssetsStockholder's...

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Unformatted text preview: 2-25:Balance SheetAssetsStockholder's EquityCash +Accts Rec. =Accts PayableNotes Payable Int. PayRet. Ear.1$18,000.00 $18,000.00 2$9,000.00 $9,000.00 3$(2,500.00)$(2,500.00)4$12,000.00 $12,000.00 5$8,600.00 $(8,600.00)6$15,000.00 $(15,000.00)7$(8,100.00)$(8,100.00)8$(210.00)$(210.00)$25,190.00 $3,000.00 $6,100.00 $900.00 $(210.00)$21,400.00 2-26:Winters & AssociatesIncome StatementFor Year Ending 12-31-03Revenue: Consulting Services $80,000.00 Interest $4,000.00 Total Revenue $84,000.00 Expenses: Salary Expense $31,000.00 Interest Expense $5,000.00 Total Expenses $36,000.00 Net Income $48,000.00 Winters & Associates Statement of Changes in Owners Equity For Year Ending 12-31-03 Beginning Common Stock $15,000.00 Stock Issued $20,000.00 Ending Common Stock $35,000.00 Beginning Retained Earnings $12,200.00 Net Income $48,000.00 Dividends $(10,000.00)Ending Retained Earnings $50,200.00 Winters & Associates Balance Sheet As of 12-31-03 Event NumberAssets: Cash $52,000.00 Accounts Receivable...
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Acct HW 3 - 2-25:Balance SheetAssetsStockholder's...

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