omework Problems $i$

Saved

The accountant for the firm owned by Vincent Sutton prepares financial statements at the end of each month.

Transactions:

a$.$ Sutton invested $$151,000$ in cash to start the business.

b$.$ Paid $$5,100$ for the current month's rent

c$.$ Bought office furniture for $$15,820$ in cash

d$.$ Performed services for $$7,300$ in cash.

e$.$ Paid $$1,160$ for the monthly telephone bill

f$.$ Performed services for $$13,100$ on cre

g$.$ Purchased a computer and copier for $

h$.$ Received $$6,550$ from credit clients.

j$.$ Purchased additional office cleaning services for the month.

k$.$ Purchased office equipment for $$31,000$; received credit terms of $30$ days.

k$.$ Purchased office equipment for $$31,000$ and paid half of this amount in cash immediately; the balance is due in $30$ days I. Issued a check for $$8,500$ to pay salaries.

Issued a check for $$8,500$ to pay salaries

n$.$ Performed services for $$15,100$ on credit.

o$.$ Collected $$7,100$ on accounts receivable from charge customers.

p$.$ Issued a check for $$2,450$ in partial ple from

p$.$ Paid $$610$ to a duplicating company fayment of the amount owed for office chairs

q$.$ Paid $$610$ to a duplicating company for photocopy work performed during the month.

s$.$ Sutton withdrew $$8,100$ in eactric bill.

Required:

Prepare a trial balance, an income statement, a statement of owner's equity, and a balance sheet. Assume that the transactions took place during the month ended June $30,20$X$1.$ Determine the account balances before you start work on the financial statements

Analyze:

What is the change in owner's equity for the month of June?

Complete this question by entering your answers In the tabs below.

$\backslash$table$[[$Trial Balance,$\backslash$table$[[$Income$],[$Statement$]],\backslash$table$[[$Stmt of$],[$Owners Eqty$]],$Balance Sheet,Analyze$]]$

Determine the account balances and prepare a trial balance for the month ended June $30,201.$

VINCENT SUTTON, LANDSCAPE CONSULTANT

Trial Balance

une $30.20x$

$$ Pres.

$5$ of $5$

Next