Sunday
March 29, 2015

Homework Help: Basic Accounting

Posted by MaS on Thursday, July 7, 2011 at 8:58pm.

Complete an Income Statement, Statement of Owner's Equity, and Balance Sheet using the information provided below for Rya’s Planning Services.

Cash… …… ……… … … … ………$21,500
Accounts Receivable………17,500
Office Supplies…… … ………500
Equipment…… …… … …… …15,000
Accounts Payable… …… ……9,750
Rya Page, Capital… …………28,200
Rya Page, Drawing………………5,000
Planning Fees Income………26,250
Office Supplies Expense……200
Rent Expense…… ……… … ………800
Salaries Expense…… … ………3,000
Utilities Expense………… ……700

I don't understand where the Equipment should be..I believe that it goes to the Balance Sheet only as an Asset in this case.Oh,it's so complicated..
Thanks for any help or suggestion!

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Accounting - Complete an Income Statement, Statement of Owner's Equity, and ...
Accounting - Statement of Owner's Equity I've tried to get it to balnce with the...
Accounting - Directions: Be sure to make a copy of your answer before submitting...
Accounting - I have added Below my balance sheet and income statement now the ...
accounting - Use the following adjusted trial balance of Webb Trucking Company ...
Introduction to Accounting - The proprietors of two businesses, L.L. Sams ...
accounting - 1)utilities expense, 2)accounts payable, 3)commissions,4)capital, 5...
Financial Accounting - Calculate accounts receivable turnover ratio. Calculate ...
Accounting - I have to prepare a income statement with the following info. I don...
Accounting - Identify whether each of the following items would appear on the ...

Members