Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. prepare a balance sheet and income statement as a

Prepare a balance sheet and income statement as a result of the following transactions: Deposit $3000 in...

50.1K

Verified Solution

Question

Accounting

  1. Prepare a balance sheet and income statement as a result of thefollowing transactions:
  1. Deposit $3000 in a bank account
  2. Rent a van at a cost of $400
  3. Purchase a power sweeper for $900
  4. Order 2000 circulars and paid the printer $120
  5. Purchase $300 worth of cleaning supplies
  6. Bought equipment worth $900; paid $200 now and will pay thebalance later.
  7. Earned $350 for washing windows
  8. Received $900 in fees for work performed
  9. Purchased supplies for $80, with cash
  10. Hired a helper and paid him $240
  11. Earned $400 in fees for work; payment will be receivedlater.
  12. Owner withdrew $1000 from the business for personaluse
  13. Received a phone bill for $20, and payment will bemade later.
  14. Paid the landlord $300
  15. Received $2000 for work performed.

Answer & Explanation Solved by verified expert
3.9 Ratings (790 Votes)
    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Data from the past shows that on average, a ready-mixed concrete plant receives 100 orders for...

Statistics
Q

Molecular and net ionic equations for 1) Ba^2+ + H2SO4 2) Sr^2+ + H2SO4 3) Ba^2+ + Na2CO3 4)...

Chemistry
Q

Define reaction rate. Distinguish between the initial rate, average rate, and instantaneous rate of a chemical...

Chemistry
Q

â—¦ Describe the chambers of the heart and any special structures found in each chamber (e.g....

Medical Sciences
Q

A protein that is specifically designed to fit certain pathogens and is actively involved in...

Biology
Q

a A spacecraft mission goes through many different broadly defined phases Name these phases and...

Physics
Q

14 Determine the volume of water inside the figure to the nearest whole number if...

Geometry
Q

When most economists wake up in the morning their first decision is whether or not...

Basic Math
Q

A lemonade seller calculates that it costs $20 to produce 100 glasses of lemonade and...

Basic Math
Q

The following is Buffay Corporation's contribution format income statement for last month: Sales $12,000,000 1,800,000...

Accounting
Q

Costello Corporation manufactures a single product. The standard cost per unit of product is shown...

Accounting
Q

A company has just announced a 3-for-1 stock split, effective immediately. Prior to the split,...

Finance