CHART OF ACCOUNTS
Whitworth Designs
General Ledger

	ASSETS
11	Cash
12	Accounts Receivable
13	Supplies
14	Prepaid Insurance
16	Office Equipment
18	Van

	LIABILITIES
21	Notes Payable
22	Accounts Payable

	EQUITY
31	Hannah Ellis, Capital
32	Hannah Ellis, Drawing

	REVENUE
41	Fees Earned

	EXPENSES
51	Wages Expense
53	Rent Expense
54	Utilities Expense
55	Van expense
59	Miscellaneous Expense

4. Determine the excess of revenues over expenses for June.

5. Can you think of any reason why the amount determined in (4) might not be the net income for June?

Check all that apply.

Utilities expense includes expenses incurred for the month of June than have not yet been paid.

Some supplies may have been used during June but no supplies expense has been recorded.

Additions to capital has been wrongly recorded as drawings.

Fees earned includes some fees earned in the month of June that have not been received.

Just Need help with 4 and 5

4. Determine the excess of revenues over expenses for June.

5. Can you think of any reason why the amount determined in (4) might not be the net income for June? Check all that apply. Utilities expense includes expenses incurred for the month of June than have not yet been paid. Some supplies may have been used during June but no supplies expense has been recorded. Additions to capital has been wrongly recorded as drawings. Fees earned includes some fees earned in the month of June that have not been received.

Please show steps