Week 1 Assignment
Question 1
Ruddy Lewis operates a bike repair shop operating under the nameR.L. Bike Repairs. The balances of his accounts on April 1 of thecurrent year were as follows:
The following transactions were incurred for the month ofApril:
- Inventory of supplies at end of the month (April 30) was$550
| Assets = Liabilities +Owners Equity | | |
| Balance April 1 | + | Cash | | | | | Ruddy Lewis, Capital | |
| | | | $12,400 | |
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| 9 | | -650 | | | -650 | |
| Balance | | | | | | |
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| Balance, April 30 | $13,970 | $550 | $9,500 | $3,900 | $20,120 | |
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Theres an acctg problem( Ruddy Lewis..... ) my question is underthe supplies column, you listed 650 under entry #9, entry for #9should be 550.if we use 550 then problem doesnt balance.
pleas help
