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Sep. 1 Strods invested $144,000 cash along with office equipment valued at $27,800 in a new sole proprietorship named AS Consulting. Sep. 3 The company
Sep. | 1 | Strods invested $144,000 cash along with office equipment valued at $27,800 in a new sole proprietorship named AS Consulting. | ||
Sep. | 3 | The company purchased land valued at $40,000 and a building valued at $162,800. The purchase is paid with $32,800 cash and a long-term note payable for $170,000. | ||
Sep. | 5 | The company purchased $4,800 of office supplies on credit. | ||
Sep. | 7 | Strods invested a personal automobile in the company. The automobile has a value of $22,100 and is to be used exclusively in the business. | ||
Sep. | 9 | The company purchased $10,100 of additional office equipment on credit. | ||
Sep. | 11 | The company paid $2,850 cash salary to an assistant. | ||
Sep. | 13 | The company provided services to a client and collected $6,700 cash. | ||
Sep. | 15 | The company paid $1,400 cash for this months utilities. | ||
Sep. | 17 | The company paid $4,800 cash to settle the account payable created on September 5. | ||
Sep. | 19 | The company purchased $20,700 of new office equipment by paying $20,700 cash. | ||
Sep. | 21 | The company completed $7,000 of services for a client, who must pay within 30 days. | ||
Sep. | 23 | The company paid $2,850 cash salary to an assistant. | ||
Sep. | 25 | The company received $5,000 cash in partial payment on the receivable created on September 21. | ||
Sep. | 27 | Strods withdrew $3,200 cash from the company for personal use.
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1/Prepare income statement
2/prepare statement of owner`s equity
3/Prepare balance sheet
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