TrishaRosano-Unit5-textbook exercise

TrishaRosano-Unit5-textbook exercise - 526,025 Wages...

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PE 4–1A 1. Income Statement column 5. Balance Sheet column 2. Balance Sheet column 6. Balance Sheet column 3. Balance Sheet column 7. Income Statement column 4. Income Statement column 8. Balance Sheet column PE 4–2A A net loss of $30,410 ($278,100 – $247,690) would be reported. When the Credit column exceeds the Debit column, a net loss is reported. If the Debit column of the Balance Sheet columns is more than the Credit column, a net income is reported. PE 4–5A Oct. 31 Fees Earned. ......................................................... 475,150 Income Summary. ........................................... 475,150 31 Income Summary. .................................................
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Unformatted text preview: 526,025 Wages Expense. .............................................. 390,000 Rent Expense. ................................................. 85,000 Supplies Expense. .......................................... 38,350 Miscellaneous Expense. ................................. 12,675 31 Lisa Jordon, Capital. ............................................ 50,875 Income Summary. ........................................... 50,875 31 Lisa Jordon, Capital. ............................................ 36,000 Lisa Jordon, Drawing. ..................................... 36,000...
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