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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 0000 (d) 186,000 26,000 (b) 42,000 (c) 76,000 (e) 660 2,600 (h) 10,600 (i) 4,600 Accounts Payable (c) 76,000 (b) Supplies 42,000 (f) Accounts Receivable 9,200 (g) 2,600 Scott Hamilton, Capital (a) 186,000 Fees Income Telephone Expense Scott Hamilton, Drawing (d) (f) 60 26,000 9,200 (e) 660 (i) 4,600 Salaries Expense (h) 10,600 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 $ 0 < Stmt of Owners Eqty Balance Sheet >
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