Week 1 RA - P1-42 p44 #1Panel B-Analysis of Transactions Of...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

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....
View Full Document

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.

Page1 / 6

Week 1 RA - P1-42 p44 #1Panel B-Analysis of Transactions Of...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online