During the first month of operations, James Advertising Agency P.O. 5,6(a),6(b),6(c)

recorded transactions in T account form. Prepare a trial balance dated October 31 of this year. Prepare an income statement, statement of owner’s equity, and Prepare trial balance and financial balance sheet. Note;

(a) original investment;

(d) additional investment.

Transcribed Image Text:

Cash Accounts Payable (a) 6,200 (c) 400 (b) 2,700 (i) (e) 4,000 (f) 700 (k) 13,600 (h) 100 N. C. James, Capital Salary Expense 3,200 Rent Expense (i) 3,200 (a) 6,200 (f) 700 (j) 2,000 (d) 1,800 Accounts Receivable N. C. James, Drawing Utilities Expense (g) 3,000 (j) 2,000 (h) 100 Office Supplies Consulting Fees (c) 400 (k) 13,600 Equipment Advertising Fees 20 (b) 2,700 (d) 1,800 (e) 4,000 (g) 3,000