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Accounting Cycle - Student Copy

Accounting Cycle - Student Copy - S&J Balance Sheet As of...

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S&J Balance Sheet As of January 31, 2006 Assets : Liabilities : Cash 9,750 Payable to Kiosk Co. 2,000 T-shirts 500 Payable to Bank 10,000 Kiosk 2,000 Total Liabilities 12,000 Computer 3,000 Equity : Total Assets 15,250 Sally’s Father 1,000 ===== Sally 1,000 John 1,000 Contributed capital Retained Earnings Total Equity Total Liabilities & Equity ===== S&J Statement of Owners’ Equity For the month ended January 31, 2006 Contributed Retained Owners’ Capital Earnings Equity Balance on 12/31/05 $0 $0 $0 Owner investments in January Net income in January Dividends in January _______ _____ ______ Balance on 1/31/06 $ $ $ ===== ===== ===== S&J Income Statement For the month ended January 31, 2006 Revenue $ Expenses Net Income $ === January
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S&J Balance Sheet As of February 28, 2006 Assets : Liabilities : Cash 10,500 Payable to Kiosk Co. 2,000 T-shirts 0 Payable to Bank 10,000 Kiosk 2,000 Total Liabilities 12,000 Computer 3,000 Equity : Total Assets 15,500 Sally’s Father 1,000 ===== Sally 1,000 John 1,000 Contributed capital Retained Earnings Total Equity Total Liabilities & Equity ===== S&J Statement of Owners’ Equity For the month ended February 28, 2006 Contributed Retained Owners’ Capital
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