Question
Jan 1- Owner transfered cash from personal bank account to new business account, $10,000. Jan 2- Paid rent for the month of January in cash,
Jan 1- Owner transfered cash from personal bank account to new business account, $10,000.
Jan 2- Paid rent for the month of January in cash, 1,000.
Jan 5- Purchased supplies on account, $500.
Jan 6- Paid by check Marketing Expense, $300.
Jan 18- Earned fees invoice sent to client to be paid next month, $10,000
Jan 25- Paid by check office salaries, $1,500.
Jan 30- Paid cash for office supplies purchased on Jan 5, $500.
Jan 31- Owner withdrew cash by check for personal use, $1,000.
- Total Revenue Recorded - $_______________
- Total Expenses Recorded - $________________
-Total Income for January - $_______________
-Net assets on January 31 - $_______________
-Net liabilities on January 31 - $______________
-Owner's Equity in January 31 - $_____________
-Cash flow from operating - $________________
-Cash flow from investments - $__________________
-Cash flow from financing - $__________________
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started