Question
4. Match the following items to the financial statement where they can be found. ( Hint : Some of the items can be found on
4. Match the following items to the financial statement where they can be found. (Hint: Some of the items can be found on more than one financial statement.) A. Balance sheet B. Income statement C. Statement of cash flows D. Statement of owners equity
| Item |
1. | Withdrawals |
2. | Revenues |
3. | Supplies |
4. | Land |
5. | Accounts payable |
6. | Accounts receivable |
7. | Operating activities |
8. | Wages expense |
9. | Net income |
10. | Cash |
. Using the following accounting equation elements and their balances, prepare, in good format a balance sheet in report form for Bright Futures Company for the month ended August 31
Telephone expense | $ 1,150 |
Cash | 3,000 |
Accounts payable | 1,540 |
Jason Bright, drawing | 800 |
Fees earned | 15,700 |
Rent expense | 1,400 |
Supplies | 140 |
Accounts receivable | 1,500 |
Computer equipment | 20,000 |
Jason Bright, capital (August 1) | 14,320 |
Wages expense | 4,800 |
Utilities expense | 750 |
Notes payable | 2,400 |
Office expense | 420 |
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