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Cosmo Thomas started a new business, Thomas Gymnastics and completed the following transactions during December of 2 0 1 6 : Dec 1 : Thomas
Cosmo Thomas started a new business, Thomas Gymnastics and completed the following transactions during December of : Dec : Thomas contributed $ cash in exchange for capital. Dec : Recelved $ cash from customers for services performed. Dec : Paid $ cash for office supplies Dec Performed services for a customer and billed the customer for services rendered, $ Dec : Received $ invoice for utilities due in two weeks Oec : Paid for advertising in the local paper: $ Dec : Paid Utility Invoice received on December Dec : Collected cash in full from customer billed on Dec Dec : Paid rent for the month, $ Dec : Paid $ to assistant for wages Dec : Received $ cash from customers for services performed Dec : Thomas withdrew $ cash from the business for personal use Thomas Gymnastics Income Statement For Month ending December Service Revenue: Less:Operating Expenses: Rent Expense: Utilities Expense: Wages Expense: Advertising Expense: Total Expenses: NET INCOME: Thomas Gymnastics Balance Sheet Dec ASSETS: Cash Accounts Receivable: Office Supplies: LIABILITIES: Accounts Payable: OWNER'S EQUITY: Cosmo Thomas, Capital: TOTAL LIABILITIES OWNER'S EQUITY: TOTAL ASSETS: Thomas Gymnastics Statement of Owner's Equity For Month ending December Opening Owner's Equity December : Plus: Net Income Revenues Expenses Less: Withdrawals Ending Owner's Equity December
Cosmo Thomas started a new business, Thomas Gymnastics and completed the following transactions during December of :
Dec : Thomas contributed $ cash in exchange for capital.
Dec : Recelved $ cash from customers for services performed.
Dec : Paid $ cash for office supplies
Dec Performed services for a customer and billed the customer for services rendered, $
Dec : Received $ invoice for utilities due in two weeks
Oec : Paid for advertising in the local paper: $
Dec : Paid Utility Invoice received on December
Dec : Collected cash in full from customer billed on Dec
Dec : Paid rent for the month, $
Dec : Paid $ to assistant for wages
Dec : Received $ cash from customers for services performed
Dec : Thomas withdrew $ cash from the business for personal use
Thomas Gymnastics
Income Statement
For Month ending December
Service Revenue:
Less:Operating Expenses:
Rent Expense:
Utilities Expense:
Wages Expense:
Advertising Expense:
Total Expenses:
NET INCOME:
Thomas Gymnastics
Balance Sheet
Dec
ASSETS:
Cash
Accounts Receivable:
Office Supplies:
LIABILITIES:
Accounts Payable:
OWNER'S EQUITY:
Cosmo Thomas, Capital:
TOTAL LIABILITIES
OWNER'S EQUITY:
TOTAL ASSETS:
Thomas Gymnastics
Statement of Owner's Equity
For Month ending December
Opening Owner's Equity December :
Plus: Net Income Revenues Expenses
Less: Withdrawals
Ending Owner's Equity December
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