Homework Answers
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JUST ROLLING ALONG INC. |
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TRANSACTIONS FOR MONTH OF MAY |
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Assets |
= |
Liabilities |
+ |
Stock Holder's Equity |
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Date |
Cash |
Accounts Receivable |
Equipments |
Supplies |
Acconuts Payable |
Capital Stock |
Retained earnings |
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01-May |
24000 |
24000 |
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01-May |
3250 |
3250 |
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Balance |
24000 |
3250 |
3250 |
24000 |
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05-May |
-40 |
-40 |
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Balance |
23960 |
3250 |
3250 |
24000 |
-40 |
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09-May |
-6150 |
6150 |
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Balance |
17810 |
9400 |
3250 |
24000 |
-40 |
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10-May |
95 |
95 |
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Balance |
17810 |
9400 |
95 |
3345 |
24000 |
-40 |
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15-May |
-135 |
-135 |
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Balance |
17675 |
9400 |
95 |
3345 |
24000 |
-175 |
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17-May |
2010 |
2010 |
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Balance |
19685 |
9400 |
95 |
3345 |
24000 |
1835 |
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24-May |
1300 |
1300 |
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Balance |
19685 |
1300 |
9400 |
95 |
3345 |
24000 |
3135 |
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29-May |
650 |
-650 |
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Balance |
20335 |
650 |
9400 |
95 |
3345 |
24000 |
3135 |
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30-May |
3250 |
3250 |
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30-May |
-210 |
-210 |
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Balance |
23375 |
650 |
9400 |
95 |
3345 |
24000 |
6175 |
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31-May |
-3250 |
-3250 |
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Balance |
20125 |
650 |
9400 |
95 |
95 |
24000 |
6175 |
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Income Statement |
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Particulars |
Amount($) |
Amonut($) |
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Revenue : |
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Net Revenue |
6560 |
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Expenses : |
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Registration Fees |
40 |
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Advertisement expenses |
135 |
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Wages |
210 |
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|
385 |
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Net Income |
6175 |
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Assets |
Amount($) |
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Current Assets |
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Cash |
20125 |
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Accounts receivable |
650 |
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Supplies |
95 |
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| Fixed Assets | ||||
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Equipment |
9400 |
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Total Assets |
30270 |
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Current Liabilities |
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Accounts payable |
95 |
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Total Liabilities |
95 |
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Equity |
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