Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information [The following information applies to the questions displayed below.] The T account balances for the accounts of Ryas Planning Services as of January

Required information

[The following information applies to the questions displayed below.] The T account balances for the accounts of Ryas Planning Services as of January 31, 2019 are listed below.

Cash $ 22,400
Accounts Receivable 18,400
Office Supplies 400
Equipment 18,000
Accounts Payable 8,400
Rya Page, Capital 29,400
Rya Page, Drawing 6,500
Planning Fees Income 34,550
Office Supplies Expense 350
Rent Expense 950
Salaries Expense 4,500
Utilities Expense 850
  1. Prepare an income statement for the Ryas Planning Services for the month ended January 31, 2019.
  2. Prepare a statement of owners equity for Ryas Planning Services for the month ended January 31, 2019.
  3. Prepare a balance sheet for Ryas Planning Services as of January 31, 2019.

I must provide a complete listing of the following:

Income Statement- This must include Revenue, Total Revenue, and Expenses. This also has to detail amounts that pertain to their corresponding accounts, such as: accounts payable, utilities expense, salary etc...

Owners Equity- Must showcase all equity amounts and their corresponding accounts, such as : accounts recieveable, cash etc...

Balance Sheet- This must include all listed assets, liabilities and owners equity. It must showcase each specific type of asset , liability and owners equity type of account.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Accounting Principles

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

10th Edition

1119491630, 978-1119491637, 978-0470534793

More Books

Students also viewed these Accounting questions

Question

What does the start( ) method defined by Thread do?

Answered: 1 week ago

Question

10-9 How have social technologies changed e-commerce?

Answered: 1 week ago