Expenses is the last column. Also, calculate net income it’s for
required 2.
Homework Answers
Part 1
| Assets | Liabilities | Equity | ||||||||
| Cash | Accounts receivable | Supplies | Equipment | Building | Accounts payable | Common stock | Dividends | Revenues | Expenses | |
| a | 65,000 | 36,000 | 101,000 | |||||||
| b | (47,000) | 47,000 | ||||||||
| Bal | 18,000 | - | - | 36,000 | 47,000 | - | 101,000 | - | - | - |
| c | (5,300) | 5,300 | ||||||||
| Bal | 12,700 | - | - | 41,300 | 47,000 | - | 101,000 | - | - | - |
| d | 3,900 | 1,100 | 5,000 | |||||||
| Bal | 12,700 | - | 3,900 | 42,400 | 47,000 | 5,000 | 101,000 | - | - | - |
| e | (920) | (920) | ||||||||
| Bal | 11,780 | - | 3,900 | 42,400 | 47,000 | 5,000 | 101,000 | - | - | (920) |
| f | 4,700 | 4,700 | ||||||||
| Bal | 11,780 | 4,700 | 3,900 | 42,400 | 47,000 | 5,000 | 101,000 | - | 4,700 | (920) |
| g | 8,900 | 8,900 | ||||||||
| Bal | 20,680 | 4,700 | 3,900 | 42,400 | 47,000 | 5,000 | 101,000 | - | 13,600 | (920) |
| h | (1,400) | (1,400) | ||||||||
| Bal | 19,280 | 4,700 | 3,900 | 42,400 | 47,000 | 5,000 | 101,000 | (1,400) | 13,600 | (920) |
| i | 3,700 | (3,700) | ||||||||
| Bal | 22,980 | 1,000 | 3,900 | 42,400 | 47,000 | 5,000 | 101,000 | (1,400) | 13,600 | (920) |
| j | (550) | (550) | ||||||||
| Bal | 22,430 | 1,000 | 3,900 | 42,400 | 47,000 | 4,450 | 101,000 | (1,400) | 13,600 | (920) |
| k | (1,900) | (1,900) | ||||||||
| Bal | 20,530 | 1,000 | 3,900 | 42,400 | 47,000 | 4,450 | 101,000 | (1,400) | 13,600 | (2,820) |
Part 2
| Service revenue or fees earnd | 13,600 | |
| Less: | ||
| Advertising expense | 920 | |
| Salary expense | 1,900 | |
| Total expense |
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