Matthew_McCoy_Problem 4-3A

Matthew_McCoy_Problem 4-3A - MatthewMcCoy Problem43A...

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Matthew McCoy Problem 4-3A        CHARON REPAIRS       Income Statement                       For year Ended December 31, 2009 Revenues       Repair fees earned 98,600 98,600       Total revenues 98,600 Expenses       Depreciation expense- Equipment 5,000       Wages expense 39,000       Insurance expense 800       Rent expense 13,000       Office supplies expense 3,100       Utilities expense 2,900       Total expenses 63,800 Net income 34,800       CHARON REPAIRS                             Statement of Owner's Equity                       For year Ended December 31, 2009 L. Charon, Capital, December 31, 2008 33,000 Add:     Investment by owner 0               Net income 34,800 34,800 67,800 Less:     Withdrawals by owner 16,000 L. Charon, Capital, December 31, 2009 51,800
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Matthew_McCoy_Problem 4-3A - MatthewMcCoy Problem43A...

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