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Unformatted text preview: P1-42 p44 #1Panel B-Analysis of Transactions Of Carl AssetsDateCashAccount ReceivableSupplies12-Dec$10,000.00Bal.$10,000.002-$500.00Bal.$9,500.0023-Dec-$2,000.00Bal.$7,500.0034-DecBal.$7,500.0035-Dec$300.00Bal.$7,500.00$300.0049-Dec$1,700.00Bal.$7,500.00$1,700.00$300.00412-Dec-$200.00Bal.$7,300.00$1,700.00$300.00518-Dec$800.00Bal.$8,100.00$1,700.00$300.00Total Assets P1-42 #2Carl RedmonIncome StatementDecember 31, 2007Revenue:Service revenue$800.00Service revenue$1,700.00Expenses:Rental Expense, Office$500.00Utility expense$200.00Total Expenses-$700.00Net income$1,800.00P1-42 #3Carl RedmonStatement of Owner's EquityDecember 31, 2007Carl Redmon, capital, December 1, 2007$0.00Add: investment by owner$10,000.00Net income for the month$1,800.00Carl Redmon, capital, December 31,2007$11,800.00P1-42 #4Carl RedmonBalance SheetDecember 31, 2007AssetsLiabilitiesCash$8,100.00Accounts payable$3,900.00Accounts Receivable$1,700.00Supplies$300.00Owner's EquityEquipment $2,000.00Carl Redmon, Capital$11,800.00$11,800....
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This note was uploaded on 09/15/2011 for the course ACCOUNTING ACC 205 taught by Professor Stephenrussell during the Fall '11 term at Ashford University.
- Fall '11