1.

The account balances from the December 31, 20X1, trial balance for Haman Accounting Services are shown below.

HAMAN ACCOUNTING
Trial Balance
December 31, 20X1
ACCOUNT NAME	DEBIT		CREDIT
Cash	7,300
Accounts receivable	3,200
Supplies	1,200
Prepaid rent	12,000
Equipment	15,500
Accounts payable			9,450
Erik Haman, Capital			20,000
Erik Haman, Drawing	4,200
Fees income			21,000
Salaries expense	6,200
Utilities expense	850
Totals	50,450		50,450

1. Prepare an income statement for the Haman Accounting Services for the month ended December 31, 20X1.
2. Prepare a statement of owners equity for Haman Accounting Services for the month ended December 31, 20X1.
3. Prepare a balance sheet for Haman Accounting Services as of December 31, 20X1.

2.

The consulting firm of Martin and Associates uses the accounts listed below. On a separate sheet of paper, set up T accounts for each of the accounts listed and record the balances as of December 1, 20X1 on the normal balance side of the accounts.

Cash	$	5,400		Joan Martin, Capital	15,700
Accounts receivable		8,400		Joan Martin, Drawing	-0-
Prepaid rent		-0-		Fees income	-0-
Office equipment		7,900		Utilities expense	-0-
Accounts payable		6,000		Salaries expense	-0-

The firm has the following transactions during the month of December 20X1. Record the effects of these transactions in the T accounts.

1. Paid $1,400 for one month's rent.
2. Collected $5,200 in cash from credit customers.
3. Performed services for $7,400 in cash.
4. Paid $4,400 for salaries.
5. Issued a check for $3,400 to a creditor.
6. Performed services for $10,400 on credit.
7. Purchased office equipment for $1,400 on credit.
8. The owner withdrew $3,400 in cash for personal expenses.
9. Issued a check for $640 to pay the monthly utility bill.

1. Post the above transactions into the appropriate T accounts.
2. Using the information shown, prepare a trial balance for Martin and Associates at December 31, 20X1 before any adjusting entries are made.