Ch02P5B - k Judith Grimm capital December 31 $ subtotal l...

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Problem 2-5B 1 and 2. Assets = Liabilities + Equity 3. Date Cash Building a) Southwest Consulting Income Statement b) For Year Ended December 31, 2005 subtotal - - - - - - - - Revenues: c) Service revenue subtotal - - - - - - - - Operating expenses: d) Wage expense subtotal - - - - - - - - Advertising expense e) Total operating expenses - subtotal - - - - - - - - Net income $- f) subtotal - - - - - - - - Southwest Consulting g) Statement of Owner's Equity subtotal - - - - - - - - For Year Ended December 31, 2005 h) Judith Grimm, capital, January 1 subtotal - - - - - - - - Add: Investment by owner i) Net income - subtotal - - - - - - - - - j) subtotal - - - - - - - - Less: Withdrawals by owner
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Unformatted text preview: k) Judith Grimm, capital, December 31 $- subtotal- - - - - - - - l) total $- $- $- $- $- $- $- $- $0 $0 Southwest Consulting Balance Sheet *OI = Owner Investment; R = Revenue; E = Expense; W = Withdrawal December 31, 2005 Assets Cash Accounts receivable Office supplies Office equipment Building Total assets $- Liabilities Accounts payable Notes payable Total liabilities- Owner's Equity Judith Grimm, capital- Total liabilities and owner's equity $- Accounts Receivable Office Supplies Office Equipment Accounts Payable Notes Payable Judith Grimm, Capital Description of Equity Transactions (OI, R, E, W)*...
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