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Please Help.. Im I doing this right? And how would I complete the framework(2nd pic)? B LCD 1 Chart of Accounts 2 Revenue 3 Salary
Please Help.. Im I doing this right? And how would I complete the framework(2nd pic)?
B LCD 1 Chart of Accounts 2 Revenue 3 Salary Expense 4 Rent Expense 5 Telephone Expense 6 Cash 7 Account Receivable 8 Liabilities 9 Common Stock 10 Retained earnings $11,000 $2,000 $1,500 $500 $26,000 $3,000 $2,000 $20,000 $7,000 11 C 2 Assets D Entry # Cash $26,000 Accounts Receivable 6 Liabilities + Shareholder's Equity $3,000 $29,000 $2,000 Liabilities Common Stock $20,000 Retained Earnings $7,000 12 Profit & Loss Revenue $11,000 14 Expenses $500 Net Income Cash Flow Account Name Check Balance Sheet Income Statement Chart of Accounts Framework Ready
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