Question
PLEASE USE THESE SAME EXACT NUMBERS Sue Jantz started a business in August 20-- called Jantz Plumbing Service. Jantz hired a part-time college student as
PLEASE USE THESE SAME EXACT NUMBERS
Sue Jantz started a business in August 20-- called Jantz Plumbing Service. Jantz hired a part-time college student as an administrative assistant.
Refer to the trial balance on August 31, 20-- for Jantz Plumbing Service:
Jantz Plumbing Service
UNADJUSTED TRIAL BALANCE
August 31, 20--
ACCOUNT TITLE | DEBIT | CREDIT | |
---|---|---|---|
1 | Cash | 20,200.00 |
|
2 | Accounts Receivable | 2,700.00 |
|
3 | Office Supplies | 300.00 |
|
4 | Prepaid Insurance | 800.00 |
|
5 | Plumbing Equipment | 6,000.00 |
|
6 | Van | 8,000.00 |
|
7 | Accounts Payable |
| 4,500.00 |
8 | Sue Jantz, Capital |
| 30,000.00 |
9 | Sue Jantz, Drawing | 3,000.00 |
|
10 | Service Fees |
| 9,800.00 |
11 | Rent Expense | 700.00 |
|
12 | Wages Expense | 500.00 |
|
13 | Phone Expense | 100.00 |
|
14 | Advertising Expense | 2,000.00 |
|
15 | Totals | 44,300.00 | 44,300.00 |
Sue Jantz invested $30,000 of cash in the business and withdrew $3,000 of cash during the month.
Required:
1. | Prepare an income statement for Jantz Plumbing Service for the month ended August 31, 20--. |
2. | Prepare a statement of owners equity for Jantz Plumbing Service for the month ended August 31, 20--. |
3. | Prepare a balance sheet for Jantz Plumbing Service as of August 31, 20--. |
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