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Instructions On January 1, 2019, Sharon Matthews established Tri-City Realty, which completed the following transactions during the month: Jan. 1 Sharon Matthews transferred cash from
Instructions On January 1, 2019, Sharon Matthews established Tri-City Realty, which completed the following transactions during the month: Jan. 1 Sharon Matthews transferred cash from a personal bank account to an account to be used for the business, $29,000. 2 Paid rent on office and equipment for the month, $2,250. 3 Purchased supplies on account, $2,300. 4 5 Paid creditor on account, $825. Earned fees, receiving cash, $15,660. Paid automobile expenses (including rental charge) for month, $1,620, and miscellaneous expenses, $830. 6 7 Paid office salaries, $2,200. 8 Determined that the cost of supplies used was $1,350. Withdrew cash for personal use, $2,800. 9 Shaded cells have feedback. 4. Determine the following: a. Amount of total revenue recorded in the ledger. $15,660.00 b. Amount of total expenses recorded in the ledger. $8,250.00 c. Amount of net income for January. $7,410.00 V S Points: 3/3 5. Determine the increase or decrease in owner's equity for January. $4,610.00 X I Points: 0/1
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