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4. Determine the following: a. Amount of total revenue recorded in the ledger. $ b. Amount of total expenses recorded in the ledger. $ C. Amount of net income for January. $ 5. Determine the increase or decrease in owner's equity for January. %24

4. Determine the following: a. Amount of total revenue recorded in the ledger. $ b. Amount of total expenses recorded in the ledger. $ C. Amount of net income for January. $ 5. Determine the increase or decrease in owner's equity for January. %24

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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ctions Jan. Sharon Matthews transferred cash from a personal bank account to an account to be used for the business, $40,000. 2 Paid rent on office and equipment for the month, $6,000. Purchased supplies on account, $3,200. 4 Paid creditor on account, $1,750. Earned fees, receiving cash, $18,250. Paid automobile expenses (including rental charge) for month, $1,880, and miscellaneous expenses, $420. 7 Paid office salaries, $5,000. 8 Determined that the cost of supplies used was $1,400. 9. Withdrew cash for personal use, $2,000.
Transcribed Image Text:ctions Jan. Sharon Matthews transferred cash from a personal bank account to an account to be used for the business, $40,000. 2 Paid rent on office and equipment for the month, $6,000. Purchased supplies on account, $3,200. 4 Paid creditor on account, $1,750. Earned fees, receiving cash, $18,250. Paid automobile expenses (including rental charge) for month, $1,880, and miscellaneous expenses, $420. 7 Paid office salaries, $5,000. 8 Determined that the cost of supplies used was $1,400. 9. Withdrew cash for personal use, $2,000.
Od durir 4. Determine the following: a. Amount of total revenue recorded in the ledger. $ sed fo b. Amount of total expenses recorded in the ledger. $ C. Amount of net income for January. $ 5. Determine the increase or decrease in owner's equity for January. $4
Transcribed Image Text:Od durir 4. Determine the following: a. Amount of total revenue recorded in the ledger. $ sed fo b. Amount of total expenses recorded in the ledger. $ C. Amount of net income for January. $ 5. Determine the increase or decrease in owner's equity for January. $4
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