Prepare a balance sheet and income statement as a result of the following transactions: Owner deposit...

Prepare a balance sheet and income statement as a result of the following transactions:

Owner deposit of $2000 to open a bank account
Owner deposits and additional $500 in the bank account to increase his/her equity
Purchase a used hand truck for $600
Bought insurance for the truck. Insurance cost is $40 for the month.
Placed a newspaper ad for $25
Purchased ladders for $300
Completed first job and was paid $2700 in cash
Purchased $200 in supplies
Rented a sprayer for $40
Received $120 for completed job
Received a bill of $15 for telephone
Bought gasoline for $30

Expert Solution

ekkarill92 answered 1 year ago

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