Below are accounts & balances of TechnoSupport, a sole proprietorship that installs and repairs home computers for customers, as of November 2020. During the month, the owner, Sandy Pearson, invested additional cash of Php 20,000. For the month ended of November 30, 2020, (1) income statement (2) a statement of owner’s equity (3) balance sheet ACCOUNT/TRANSACTION BALANCE Cash 36,000 Accounts Receivable 112,600 Supplies 18,000 Equipment 191,400 Accounts Payable 60,800 Sandy Pearson Capital, 11/1/2020 93,600 Sandy Pearson, Drawing 17,000 Fees Earned 682,000 Salaries Expense 396,800 Advertising Expense 73,000 Miscellaneous Expense 11,600
Below are accounts & balances of TechnoSupport, a sole proprietorship that installs and repairs home computers for customers, as of November 2020. During the month, the owner, Sandy Pearson, invested additional cash of Php 20,000. For the month ended of November 30, 2020, (1) income statement (2) a statement of owner’s equity (3) balance sheet ACCOUNT/TRANSACTION BALANCE Cash 36,000 Accounts Receivable 112,600 Supplies 18,000 Equipment 191,400 Accounts Payable 60,800 Sandy Pearson Capital, 11/1/2020 93,600 Sandy Pearson, Drawing 17,000 Fees Earned 682,000 Salaries Expense 396,800 Advertising Expense 73,000 Miscellaneous Expense 11,600
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter6: Accounting For Merchandising Businesses
Section: Chapter Questions
Problem 5PA: The following selected accounts and their current balances appear in the ledger of Clairemont Co....
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Below are accounts & balances of TechnoSupport, a sole proprietorship that installs and repairs home computers for customers, as of November 2020. During the month, the owner, Sandy Pearson, invested additional cash of Php 20,000.
For the month ended of November 30, 2020,
(1) income statement
(2) a statement of owner’s equity
(3) balance sheet
ACCOUNT/TRANSACTION |
BALANCE |
Cash |
36,000 |
Accounts Receivable |
112,600 |
Supplies |
18,000 |
Equipment |
191,400 |
Accounts Payable |
60,800 |
Sandy Pearson Capital, 11/1/2020 |
93,600 |
Sandy Pearson, Drawing |
17,000 |
Fees Earned |
682,000 |
Salaries Expense |
396,800 |
Advertising Expense |
73,000 |
Miscellaneous Expense |
11,600 |
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