Question
In: Accounting
During the first month of operations, Landish Modeling Agency recorded transactions in T account form. Foot...
During the first month of operations, Landish Modeling Agency recorded transactions in T account form.
Foot and balance the accounts.
| Cash | Accounts Payable | Salary Expense | |||||||||||
| (a) | 14,000 | (b) | 402 | (k) | 3,330 | (g) | 4,019 | ||||||
| (c) | 7,589 | (d) | 1,924 | (j) | 114 | ||||||||
| (i) | 7,121 | (f) | 201 | Bal. | |||||||||
| (g) | 4,019 | ||||||||||||
| (h) | 2,600 | Rent Expense | |||||||||||
| (d) | 1,924 | ||||||||||||
| Bal. | |||||||||||||
| Accounts Receivable | R. Landish, Capital | Supplies | |||||||||||
| (e) | 3,072 | (a) | 14,000 | (j) | 114 | ||||||||
| Office Furniture | R. Landish, Drawing | Utilities Expense | |||||||||||
| (b) | 402 | (h) | 2,600 | (f) | 201 | ||||||||
| Office Equipment | Modeling Fees | ||||||||||||
| (k) | 3,330 | (c) | 7,589 | ||||||||||
| (e) | 3,072 | ||||||||||||
| (i) | 7,121 | ||||||||||||
| Bal. | |||||||||||||
Prepare a trial balance. List all the accounts in the proper order as described in the textbook. If no amount is required, leave the entry box blank.
| Landish Modeling Agency | ||
| Trial Balance | ||
| March 31, 20-- | ||
| ACCOUNT NAME | DEBIT | CREDIT |
Prepare an income statement.
| Landish Modeling Agency | ||
| Income Statement | ||
| For Month Ended March 31, 20-- | ||
| Revenue: | ||
| $ | ||
| Expenses: | ||
| $ | ||
| Total Expenses | ||
| $ | ||
Prepare a statement of owner's equity. If an amount is zero, enter "0".
| Landish Modeling Agency | ||
| Statement of Owner's Equity | ||
| For Month Ended March 31, 20-- | ||
| $ | ||
| $ | ||
| Subtotal | $ | |
| $ | ||
Prepare a balance sheet dated March 31, 20--.
| Landish Modeling Agency | ||
| Balance Sheet | ||
| March 31, 20-- | ||
| Assets | ||
| $ | ||
| Total Assets | $ | |
| Liabilities | ||
| $ | ||
| Owner's Equity | ||
| Total Liabilities and Owner's Equity | $ | |
Solutions
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