example for A.

example of a similar problem from chegg for example

a. b 1. Section 1 Determine the changes to the income statement, balance sheet, job cost ledger, and equipment ledger based on the following transactions. Show each transacion graphically, the complete Section 2 Record a bill for lumber used in job 302 in the amount of $6.25 Record a $13 bill received from a subcontractor for work performed at job 302, and you will withhold 10% of that Pay for office rent in the amount of $2.711 d. Send an invoice to an owner for 20.082. The owner will withhold 10% retention e Record repairs to backhoe 27 in the amount of $495 T. Mecord depreciation for backhoe 27 in the amount of $524 Record a bill received for telephone service in the amount of $194 th Pay a bit for concrete for job 02 in the amount of $6,924 Bill job 302 for backhoe 22 in the amount of $764 Receive a check from an owner for progress payment for $22,709, No retention was withheld. Shortion Determine the changes to the income statement, balance sheet, job cost ledger, and equipment ledger based on the following transactions. Show each transaction graphically, then complete Section 2 a. Record a bill for lumber used in job 302 in the amount of $6,157 b. Record a $18,444 bill received from a subcontractor for work performed at job 302, and you will withhold 10% of that bill C. Pay for office rent in the amount of $2,711 d. Send an invoice to an owner for $20,082. The owner will withhold 10% retention. e. Record repairs to backhoe 27 in the amount of $495 f. Record depreciation for backhoe 27 in the amount of $524 g Record a bill received for telephone service in the amount of $194 h. Pay a bill for concrete for job 302 in the amount of $6,924 i. Bill job 302 for backhoe 27 in the amount of $764 j Receive a check from an owner for progress payment for $22,709. No retention was withheld. D E F G balance sheet assets liabilities Income statement expenses revenues Materials 6,157 accounts Payable- trade 6,157 equity current period net income profit -6,157 -6,157 0 0 0 a. A $5,000 invoice for concrete charged to a job: Balance Sheet: : Balance sheet which is also known as position statement is a financial statement prepared at the end of the accounting period to know the exact position of asset and liabilities for a given period. Balance Sheet Assets Liabilities 310 accounts payable- trade $5,000 Equity 430 current period net income lo $(5,000) 0 Income Statement: Income statement is one of the important financial statements prepared by accompany to know whether the business has earned profits or suffered losses for a business year. Income Statement Expenses Revenues 610 materials $5,000 Profit $(5,000) o Ol O Job cost ledger: Job cost ledger is provides the detailed information regarding the costs spent on a particular job for a given period. Job Cost Expenses 302.01.32300M $5,000 a. b 1. Section 1 Determine the changes to the income statement, balance sheet, job cost ledger, and equipment ledger based on the following transactions. Show each transacion graphically, the complete Section 2 Record a bill for lumber used in job 302 in the amount of $6.25 Record a $13 bill received from a subcontractor for work performed at job 302, and you will withhold 10% of that Pay for office rent in the amount of $2.711 d. Send an invoice to an owner for 20.082. The owner will withhold 10% retention e Record repairs to backhoe 27 in the amount of $495 T. Mecord depreciation for backhoe 27 in the amount of $524 Record a bill received for telephone service in the amount of $194 th Pay a bit for concrete for job 02 in the amount of $6,924 Bill job 302 for backhoe 22 in the amount of $764 Receive a check from an owner for progress payment for $22,709, No retention was withheld. Shortion Determine the changes to the income statement, balance sheet, job cost ledger, and equipment ledger based on the following transactions. Show each transaction graphically, then complete Section 2 a. Record a bill for lumber used in job 302 in the amount of $6,157 b. Record a $18,444 bill received from a subcontractor for work performed at job 302, and you will withhold 10% of that bill C. Pay for office rent in the amount of $2,711 d. Send an invoice to an owner for $20,082. The owner will withhold 10% retention. e. Record repairs to backhoe 27 in the amount of $495 f. Record depreciation for backhoe 27 in the amount of $524 g Record a bill received for telephone service in the amount of $194 h. Pay a bill for concrete for job 302 in the amount of $6,924 i. Bill job 302 for backhoe 27 in the amount of $764 j Receive a check from an owner for progress payment for $22,709. No retention was withheld. D E F G balance sheet assets liabilities Income statement expenses revenues Materials 6,157 accounts Payable- trade 6,157 equity current period net income profit -6,157 -6,157 0 0 0 a. A $5,000 invoice for concrete charged to a job: Balance Sheet: : Balance sheet which is also known as position statement is a financial statement prepared at the end of the accounting period to know the exact position of asset and liabilities for a given period. Balance Sheet Assets Liabilities 310 accounts payable- trade $5,000 Equity 430 current period net income lo $(5,000) 0 Income Statement: Income statement is one of the important financial statements prepared by accompany to know whether the business has earned profits or suffered losses for a business year. Income Statement Expenses Revenues 610 materials $5,000 Profit $(5,000) o Ol O Job cost ledger: Job cost ledger is provides the detailed information regarding the costs spent on a particular job for a given period. Job Cost Expenses 302.01.32300M $5,000