Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help with this Accounting assignment. Highly appreciated! ALOECHANGES 0 ALT-ALOE CHANGES IS TOTAL SCORE In chapter I, revenues are ADDED te Capital, and expenses

Please help with this Accounting assignment. Highly appreciated!
image text in transcribed
ALOECHANGES 0 ALT-ALOE CHANGES IS TOTAL SCORE In chapter I, revenues are ADDED te Capital, and expenses are SUBTRACTED from capital. CASH ACCTS REC SUPPLIES MUILDING EQUIPMENT - ACCTS PAY NOTES PAY RODMAN CAPITAL REMARA BEGINNING BALANCES 52.000 3,000 12.000 2.000 10.000 55,000 Rodman paid rent in the anunt of $2.500 6 NO CHANGE NO CHANGE NO CHANGENO CHANGE NO CHANGE - NO CHANGE NO CHANGE NO CHANGE RENT EXPE 2 Rodman paid salary expense in cash, 54,000 6 NO CHANGE NO CHANGE NO CHANGENO CHANGE NO CHANGE NO CHANGE NO CHANGE NO CHANGE SALARY EXI 3 Rodman provided services to customers ca NO CHANGE NO CHANGE NO CHANGENO CHANGE NO CHANGE - NO CHANGE NO CHANGE NO CHANGE SERVICE RE account 59,000 4 Rodman received a dilities bill er 1.800 6 NO CHANGE NO CHANGE NO CHANGENO CHANGE NO CHANGE NO CHANGE NO CHANGE NO CHANGE UTILITIES which will be paid in 30 days 5 Rodman performed services for clients, $6,800 6 NO CHANGE NO CHANGE NO CHANGENO CHANGE NO CHANGE | NO CHANGE NO CHANGE NO CHANGE SERVICE RE receiving the entire amount in cash 6 At mooth-end, a count of supplies determined 6 NO CHANGE NO CHANGE NO CHANGENO CHANGE NO CHANGE - NO CHANGE NO CHANGE NO CHANGE SUPPLIES ES that supplies used up this month were $1,000 TOTALS 52,000 0 12.000 10,000 55.000 BALANCE SHEET CASH ACCTS REC SUPPLIES BUILDING EQUIPMENT TOTAL ASSETS ACCTS PAY NOTES PAY TOTAL LIAR 2.000 10,000 12.000 0 3,000 0 12.000 67.000 INCOME STATEMENT REVENUE RENT EXP NO CHANGE SALARY EXP NO CHANGE UTILITIES EXINO CHANGE SUPPLIES EXPNO CHANGE NET INCOME R. CAPITAL TOTAL LHOB 55.000 67.000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions