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, prepare an (1) income statement, (2) a statement of owner’s equity, and a (3) balance sheet all in proper form. 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, prepare an (1) income statement, (2) a statement of owner’s equity, and a (3) balance sheet all in proper form. 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
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 46P: Blue Company, an architectural firm, has a bookkeeper who maintains a cash receipts and...
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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, prepare an (1) income statement, (2) a statement of owner’s equity, and a (3)
|
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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