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The following T accounts show transactions that were recorded by Residential Relocators, a firm that specializes in local housing rentals. The entries for the
The following T accounts show transactions that were recorded by Residential Relocators, a firm that specializes in local housing rentals. The entries for the first transaction are labeled with the letter (a), the entries for the second transaction with the letter (b), and so on. Cash Equipment (a) (d) 173,000 13,000 (b) 29,000 (c) 63,000 (e) 530 (g) 1,300 (h) 9,300 (i) 3,300 Accounts Payable () 63,000 (b) Supplies 29,000 (h) (f) Accounts Receivable 11,400 (g) 1,300 Scott Hamilton, Capital (a) 173,000 Fees Income (d) 13,000 (f) 11,400 (e) Telephone Expense 530 Scott Hamilton, Drawing (i) 3,300 Salaries Expense 9,300 Required: Prepare a statement of owner's equity and a balance sheet for Residential Relocators as of December 31, 20X1. Complete this question by entering your answers in the tabs below. Stmt of Owners Eqty Balance Sheet Prepare a balance sheet for Residential Relocators as of December 31, 20X1. RESIDENTIAL RELOCATORS Balance Sheet December 31, 20X1 Assets Liabilities Owner's Equity Total Assets $ 0 Total Liabilities and Owner's Equity $ < Stmt of Owners Eqty Balance Sheet >
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