Rachel Gates_ACC240_ComputerProject2

Rachel Gates_ACC240_ComputerProject2 - 4,749 Net Income...

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Rachel Gates ACC 240 Computer Project Two Monday - Wednesday 8:30 - 9:45 Professor: A. Tessema, Ph.D. Goodbye Grass Corporation Adjusted Trial Balance As of April 30, 2010 Account Name Debits Credits Cash  $4,410  Accounts Receivable  1,720  Equipment  4,600  Accumulated Depreciation  $25  Accounts Payable  775  Income Tax Payable  279  Contributed Capital  9,000  Retained Earnings  -    Mowing Revenue  5,400  Wages Expense  3,985  Fuel Expense  410  Insurance Expense  50  Depreciation Expense  25  Income Tax Expense  279  Totals  $15,479   $15,479  Goodbye Grass Corporation Income Statement For the Month Ended April 30, 2010 Revenues: Mowing Revenue  $5,400  Expenses: Wages Expense  3,985  Fuel Expense  410  Insurance Expense  50  Depreciation Expense  25  Income Tax Expense  279  Total Expenses
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Unformatted text preview: 4,749 Net Income $651 Goodbye Grass Corporation Statement of Retained Earnings For the Month Ended April 30, 2010 Balance, April 1 $- Add:Net Income 651 Less: Dividends - Balance, April 30 $651 Goodbye Grass Corporation Balance Sheet As of April 30, 2010 Assets: Liabilities: Current Assets Current Liabilities Cash $4,410 Accounts Payable Accounts Receivable 1,720 Income Tax Payable Total Current Assets 6,130 Total Current Liabilities Equipment 4,600 Stockholders' Equity Accumulated Depreciation (25) Contributed Capital Equipment, Net 4,575 Retained Earnings Total Assets $10,705 Total Liabilities and Stockholders' Equity $775 279 1,054 9,000 651 $10,705...
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This note was uploaded on 02/01/2011 for the course ACC 240 taught by Professor Lewis during the Fall '08 term at Eastern Michigan University.

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Rachel Gates_ACC240_ComputerProject2 - 4,749 Net Income...

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