I cant get asset to equally liabilty$+$owner equity.

Put all the Transactions into each list $.$

Cash$-30,605$

A$/$R $$ Fellowes $-500$

A$/$R $$ Jeanne Lajoie $-680$

Basketball Equipment $-6298$

Office Supplies $-1000$

A$/$P $$ Wilson $-780$

A$/$P $$ Staples $-230$

Bank Loan $-10,100$

N$.$ Chan, Capital $-16,023$

Fees Earned $-16,500$

Advertising Expense $-200$

Gas Expense $-50$

Rent Expense $-650$

Wages Expense $-2500$

N$.$ Chan, Drawings $-1150$

Transactions

Fellowes sends a cheque for $$400.$

Basketball Superstars Inc. holds a clinic for Jeanne Lajoie in the amount of $$1500.$ $$575$ is paid in cash and the remainder is placed on account.

An employee is paid $$70$ in gas mileage for running the clinic.

$$1250$ of basketball equipment is purchased using cash.

$$700$ is paid off of the bank loan.

An employee is given a paycheck for $$550.$

Basketball Superstars Inc. holds a clinic for Fellowes in the amount of $$850.$ $$500$ is paid in cash and the rest is placed on account.

$$300$ is paid to Wilson.

Basketball Superstars Inc. has an ad placed in the newspaper for $$65.$

Jeanne Lajoie sends a cheque for $$450.$

$$200$ of office supplies is purchased from Staples on account.

Fellowes sends a cheque in the amount of $$670.$

$$200$ is paid to the bank loan.

$$1000$ of basketball supplies are purchased from Wilson. $$250$ is paid in cash and the rest is paid on account.

An employee is paid $$200.$

A cheque is sent to Staples for $$200.$

A cheque is sent to Wilson for $$500.$

A clinic is run for Jeanne Lajoie in the amount of $$500.$ They pay $$100$ in cash and put the rest on account.

Gas mileage is paid in the amount of $$40$ for the clinic.

Jeanne Lajoie sends a cheque for $$400.$

A cheque is sent to Wilson for $$700.$

Calculate your pin totals and account balances for each account in the ledger.

Perform a trial balance for May $31,20$

Create an Income Statement to calculate Net Income

Answer rating: 100% (QA)

To calculate the pin totals and account balances for each account in the ledger we need to analyze the transactions and record them accordingly Heres ... View the full answer