=+Financial statements

✔ 1. Net income:

$8,800 Assets  Liabilities  Owner’s Equity Ashley Ashley Accounts Accounts Rhymer, Rhymer, Fees Salaries Rent Auto Supplies Misc.

Cash  ReceivableSupplies  Payable  Capital  Drawing  Earned  Expense  Expense  Expense  Expense  Expense

a. 15,000 15,000

b. 2,180 2,180 Bal. 15,000 2,180 2,180 15,000

c.  600 600 Bal. 14,400 2,180 1,580 15,000

d. 28,000 28,000 Bal. 42,400 2,180 1,580 15,000 28,000

e.  7,500 7,500 Bal. 34,900 2,180 1,580 15,000 28,000 7,500

f.  5,700 4,500 1,200 Bal. 29,200 2,180 1,580 15,000 28,000 7,500 4,500 1,200 g. 16,000 16,000 Bal. 13,200 2,180 1,580 15,000 28,000 16,000 7,500 4,500 1,200 h. 1,500 1,500 Bal. 13,200 680 1,580 15,000 28,000 16,000 7,500 4,500 1,500 1,200 i. 11,500 11,500 Bal. 13,200 11,500 680 1,580 15,000 39,500 16,000 7,500 4,500 1,500 1,200 j.  5,000 5,000