Accounting Cycle - Student Copy

Accounting Cycle - Student Copy - S&J Balance...

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Unformatted text preview: 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 Sallys 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 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 Sallys Father 1,000 ===== Sally...
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This note was uploaded on 04/07/2008 for the course ACC 311 taught by Professor Charrier during the Fall '08 term at University of Texas at Austin.

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Accounting Cycle - Student Copy - S&J Balance...

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