Excel_Chapter 1 - Name Section Date(a Barone's Repair Shop...

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14 Name Problem 1-1A Section Date Barone's Repair Shop (a) Barone's Repair Shop Assets = Liabilities + Owner's Equity Trans- Accounts Accounts N. Barone, actions Cash + Receivable + Supplies + Equipment = Payable + Capital 1 1. 10,000 10,000 Investment 1 2 2 3 2. -5,000 5,000 Purchase Equipment 3 4 5,000 5,000 10,000 4 5 3. -400 -400 Rent Expense 5 6 4,600 5,000 9,600 6 7 4. 500 500 Supplies 7 8 4,600 500 5,000 500 9,600 8 9 5. 250 -250 Advertising Costs 9 10 4,600 500 5,000 750 9,350 10 11 6. 5,100 5,100 Service Revenue 11 12 9,700 500 5,000 750 14,450 12 13 7. -1,000 -1,000 Drawings 13 14 8,700 500 5,000 750 13,450 14 15 8. -2,000 -2,000 Salaries Expense 15 16 6,700 500 5,000 750 11,450 16 17 9. -140 -140 Utilities Expense 17 18 6,560 500 5,000 750 11,310 18 19 10 750 750 Service Revenue 19 20 6,560 750 500 5,000 750 12,060 20 21 11. 120 -120 21 22 6,680 630 500 5,000 750 12,060 22 23 23
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15 Name Problem 1-1A Section Date Barone's Repair Shop (b) Barone's Repair Shop Incom Statement For the Month Ended May 1 Revenues 1 2 Service Revenue 5,850 2 3 3 4 4 5 Expenses 5 6 Salaries expense 2000 6 7 Rent expense 400 7 8 Advertising expense 250 8 9 Utilities expense 140 9 10 Total expenses 2790 10 11 Net Income 3,060 11 12 12 13 13 14 14 15 15 16 16 17 17 18 18 19 19 20 20
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27 Name Problem 1-2B Section Date
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