determine the net income

 

= Liabilities + Stockholders' Equity Accounts Common Salaries Fees Earned = Payable + Stock Dividends + Rent Expense Expense Supplies Expense 75,000 Assets Accounts Item Cash + Receivable + Supplies a. 75,000 Miscellaneous Auto Expense Expense Item b. Bal. 75,000 < < 2,200 2,200 2,200 2,200 75,000 > > > b. Bal. C. 19,500 Bal. 94,500 2,200 2,200 75,000 < < 19,500 19,500 < < C. d. -8,000 Bal. 86,500 2,200 2,200 75,000 19,500 > > -8,000 -8,000 > > Bal. d. Bal. e. -1,850 -1,850 Bal. 84,650 2,200 350 75,000 19,500 -8,000 >> Bal. f. 6,000 6,000 f. Bal. 84,650 6,000 2,200 350 75,000 25,500 -8,000 Bal. 9. -2,300 -1,500 -800 g. Bal. 82,350 6,000 2,200 350 75,000 25,500 -8,000 -1,500 -800 Bal. h. -5,500 -5,500 h. Bal. 76,850 6,000 2,200 350 75,000 25,500 -8,000 -5,500 -1,500 -800 Bal. i. -1,650 | < -1,650 Bal. 76,850 6,000 550 350 75,000 25,500 -8,000 -5,500 -1,650 -1,500 -800 Bal. j. -4,000 -4,000 j. Bal. 72,850 6,000 550 350 75,000 -4,000 25,500 -8,000 -5,500 -1,650 -1,500 V -800 Bal. 2. Stockholders' equity is the right of stockholders (owners) to the assets of the business. These rights are increased by issuing common stock and revenues and decreased by dividends and expenses. 3. Determine the net income for June. 8,050 4. How much did June's transactions increase or decrease stockholders' equity? Increased by $ 79,050