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    Đạt Bi
    The document contains an expanded accounting equation showing changes in assets, liabilities, and owner's equity over time. It also includes an income statement showing revenues of $4,400 and expenses of $1,950 for net income of $2,450. Finally, there is a balance sheet listing assets of $22,000 equal to liabilities of $9,550 and owners' equity of $12,450.

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    Homework

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    Đạt Bi
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    The document contains an expanded accounting equation showing changes in assets, liabilities, and owner's equity over time. It also includes an income statement showing revenues of $4,400 and expenses of $1,950 for net income of $2,450. Finally, there is a balance sheet listing assets of $22,000 equal to liabilities of $9,550 and owners' equity of $12,450.

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    The document contains an expanded accounting equation showing changes in assets, liabilities, and owner's equity over time. It also includes an income statement showing revenues of $4,400 and expenses of $1,950 for net income of $2,450. Finally, there is a balance sheet listing assets of $22,000 equal to liabilities of $9,550 and owners' equity of $12,450.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    11 views2 pages

    Homework

    Uploaded by

    Đạt Bi
    The document contains an expanded accounting equation showing changes in assets, liabilities, and owner's equity over time. It also includes an income statement showing revenues of $4,400 and expenses of $1,950 for net income of $2,450. Finally, there is a balance sheet listing assets of $22,000 equal to liabilities of $9,550 and owners' equity of $12,450.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Homework 8:

    A, Expanded accounting equation:

    B,

    Assets = Liabilities + Owners’ Equity

    Cash Van Accounts Gasoline Supplies Notes Accounts Owner’s Retained


    Receivable Payable Payable Capital Earnings
    1 June +$10.000 +$10.000
    2 June -$2.000 +$12.000 +$10.000
    3 June -$500 -$500
    5 June +$4.400 +$4.400
    9 June -$200 -$200
    12 June +$150 +$150
    15 June +$1.250 -$1.250
    17 June +$200 +$200
    20 June +$1.300 -$1.300
    23 June -$600 -$600
    26 June -$250 -$250
    29 June -$200 -$200
    30 June -$1.000 -$1.000
    Total $7.800 $12.000 $1.850 $200 $150 $9.400 $150 $10.000 $2.450

    Income statement:

    Revenues $4.400
    Utinities $250
    Expense Salary $1.000 $1.950
    Rent office $500
    Personal use $200
    Net income $2.450
    Balance sheet:

    Assets Liabilities
    Cash $7.800 Notes payable $9.400
    Van $12.000 Accounts payable $150 $9.550
    Accounts Receivable $1.850 Owners’ equity
    Gasoline $200 Retained Earnings $2.450
    Supplies $150 Owner’s Capital $10.000 $12.450

    Total $22.000 Total $22.000

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