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Clayton State - ACCT 2101 - Study Guide - Midterm

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Clayton State - ACCT 2101 - Study Guide - Midterm

School: Clayton State University
Department: Accounting
Course: Principles of Accounting
Professor: James Cook
Term: Spring 2019
Tags: Accounting
Name: Principle of Accounting, study guide
Description: This note covers Accounting information for exam 1
Uploaded: 02/14/2019
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3 Pages 19 Views 15 Unlocks
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Join more than 18,000+ college students at Clayton State University who use StudySoup to get ahead
School: Clayton State University
Department: Accounting
Course: Principles of Accounting
Professor: James Cook
Term: Spring 2019
Tags: Accounting
Name: Principle of Accounting, study guide
Description: This note covers Accounting information for exam 1
Uploaded: 02/14/2019
3 Pages 19 Views 15 Unlocks
  • Better Grades Guarantee
  • 24/7 Homework help
  • Notes, Study Guides, Flashcards + More!

Unformatted text preview: 080114 E1-30 Preparing Income statement Wilson Towing Service Incomc 87atement 8 Mont Binded. June 30, 2018 hevenue Service Revenue $ 15.000 counset Bxpenses salaries Bxpenses S 09ei Rent Expenses $ 900 La La peregles $ 3,300 Net Income Mi 700 El-32 B tetement of owners B query. Wibon Towing Service Statement of owners Equity Month Ended June 30, 2018 Wilson, Capital, Junali 2018 $ 3.250 Owners Contribution $ tiovo Net Income + $ li 100er 25, 950 Wilson, with draivbars - 31 500 1011son, Capital, June 1, 2018 -22,45Wilson Towing Services Balance Sheet June 30, 2018 22 Assest 4 sh +40o 1,400 Account Receivable 2000 Office Supplies T1000 Equipment 25,850 total Asset 371250 Liabilities Account Pallabic 8000 Dove Payabol bi 800 Taat labutis 14,800 Owners Equity Wilson, Capital 22, 480 Total Laberizs B. Oconerofam 37,250 total liabi ho should always equal total a equal total Asset. HONG warm Allyson Appliance Services Net Incone Year Jan, 2018 Dec 31, 2018 total assest on Jan 1, 2018 Current Cisscot Amount cash 33,000 Accounts receivable 2400 Office Supplies 8, 200 Total Current assets 39,000 Property. cind equipment office furniture 127.000 Equipment -22,000 Burdina - 25,000 Total 174,000 Total assets 213, booIpg 90-E2-12 Trequirement Type of ACCA Account Name La interest Revenue 6 Account payabk heq 2 Rea 3 increas Dormal Ball Uith Door Dries CR TCR c Calhoun, Capital -) Office Supplies e Advertising Expense OR DR f Unearned Revenue CRCR H DR DR Pre paud Rent DR IDR E DO Calhoun Withdraws I service Revenue | DR Ch CR

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