Question

War (2018 W.. Chapter 3 Analyżing Business T(6) J Cole & Kendrick Lamar tyo.. Chapter 3. Analy McGs Chapter 3 Homework The following T accounts show transactions that were recorded by Residential Relocators, a irm that specializes in local housing rentals (b 32,000 (d) 16.000 ie,8D0 2,600 9,600 3,600 (a) 176,000 ) 10.800 ) ,60D Required: Prepare a stabement of owner's equity and a balance sheet for Residential Relocators as of December 31, 2019 Complete this question by entering your answers in the tabs below. ns fty alance Sheet Prepare a tatement of owners as of December 31, 2019 20 8 2 4

Answer 1

Residential Relocation
Statement of Owner's Equity
For the Month Ended December 31, 2019
Wade Wilson, Capital, at the Beginning	$176,000.00
Net income(loss)	$15,840.00
	$191,840.00
Less withdrawals	-$3,600.00
Wade Wilson ,Capital ,at the end	$188,240.00
Income Statement
Revenue = $16,000 + $10000	$26,000.00
Less:
Telephone Expenses	-$560.00
Salaries Expense	-$9,600.00
Net Income	$15,840.00
Residential Relocation
Balance Sheet
Dec.31, 2019
Assets		LIabilities
Cash	$147,840.00	Accounts Payable		$66,000.00
Account Receivables	$8,400.00	Owner's Equity
Supplies	$32,000.00	Wade Wilson, Capital, at the Beginning	$176,000.00
Equipment	$66,000.00	Net income(loss)	$15,840.00
		Less withdrawals	-$3,600.00
		Wade Wilson ,Capital ,at the end		$188,240.00
Total Assets	$254,240.00	Total Liabilities and Owner Equity		$254,240.00