Cosmo Thomas started a new business, Thomas Gymnastics and completed the following transactions during December of $2016$:

Dec $1$: Thomas contributed $$19,000$ cash in exchange for capital.

Dec $2$: Received $$3,800$ cash from customers for services performed.

Dec $5$: Paid $$300$ cash for office supplies

Dec $9.$ Performed services for a customer and billed the customer for services rendered, $$4,500$

Des $10$: Received $$150$ invoice for utilities due in two weeks

Dec $15$: Paid for advertising in the local paper: $$350$

Dec $20$: Paid Utility invoice received on December $10.$

Dec $24$: Collected cash in full from customer billed on Dec $9.$

Dec $28$: Paid rent for the month, $$2,600$

Dec $29$: Paid $$1,200$ to assistant for wages

Dec $30$: Received $$1,600$ cash from customers for services performed

Dec $31$: Thomas withdrew $$3,000$ cash from the business for personal use

Thomas Gymnastics

Income Statement

For Month ending December $31,2016$

Service Revenue:

Less:Operating Expenses:

Rent Expense:

Utilities Expense:

Wages Expense:

Advertising Expense:

Total Expenses:

NET INCOME:

Accounts Receivable:

Office Supplies: $$

LIABILITIES:

Accounts Payable:

OWNER'S EQUITY:

Cosmo Thomas, Capital:

TOTAL LIABILITIES

$+$OWNER'S EQUITY:

TOTAL ASSETS: $$

Balance Sheet

$31-$Dec$-2016$

ASSETS:

Cash $$

$$

$+$OWNER'S EQUITY:

Thomas Gymnastics

Statement of Owner's Equity

For Month ending December $31,2016$

Opening Owner's Equity December $1,2016$: $*$

Plus: Net Income $($Revenues $-$ Expenses$)$

Less: Withdrawals

Ending Owner's Equity December $31,2016$:

Cosmo Thomas started a new business, Thomas Gymnastics and completed the following transactions during December of $2016$:

Dec $1$: Thomas contributed $$19,000$ cash in exchange for capital.

Dec $2$: Received $$3,800$ cash from customers for services performed.

Dec $5$: Paid $$300$ cash for office supplies

Dec $9.$ Performed services for a customer and billed the customer for services rendered, $$4,500$

Dec $10$: Received $$150$ invoice for utilities due in two weeks

bec $15$: Paid for advertising in the local paper: $$350$

Dec $20$: Paid Utility invoice received on December $10.$

Dec $24$: Collected cash in full from customer billed on Dec $9.$

Dec $28$: Paid rent for the month, $$2,600$

Dec $29$: Paid $$1,200$ to assistant for wages

Dec $30$: Received $$1,600$ cash from customers for services performed

Dec $31$: Thomas withdrew $$3,000$ cash from the business for personal use