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Debit Credit Account Title Account No. Balance Balance Cash 101 10,021.00 Office Supplies 142 300.00 Office Equipment 181 1,500.00 Accounts Payable 202 1,600.00 Annette Creighton, Capital 311 10,000.00 Annette Creighton, Drawing 312 100.00 Consulting Fees 401 1,860.00 Wages Expense 511 720.00 Advertising Expense 512 26.00 Rent Expense 521 500.00 Phone Expense 525 42.00 Transportation Expense 526 185.00 Utilities Expense 533 38.00 Miscellaneous Expense 549 28.00 13,460.00 13,460.00 Required: 1. Prepare an income statement.

Debit Credit Account Title Account No. Balance Balance Cash 101 10,021.00 Office Supplies 142 300.00 Office Equipment 181 1,500.00 Accounts Payable 202 1,600.00 Annette Creighton, Capital 311 10,000.00 Annette Creighton, Drawing 312 100.00 Consulting Fees 401 1,860.00 Wages Expense 511 720.00 Advertising Expense 512 26.00 Rent Expense 521 500.00 Phone Expense 525 42.00 Transportation Expense 526 185.00 Utilities Expense 533 38.00 Miscellaneous Expense 549 28.00 13,460.00 13,460.00 Required: 1. Prepare an income statement.

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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Need to prepare the statement of owners equity
Feedback Check My Work The second statement that would be created is the statement of owner's equity which shows the changes in capital for the peric HEET 3. Prepare a balance sheet as of January 31, 20--. HEET Creighton Consulting Balance Sheet HEET January 31, 20-- Liabilities Assets Accounts payable X 1,590 X 9,820 x Owner's Equity Annette Creighton, capital X Total liabilities & owner's eguity 11.658 x Total assets 11,658 Feedback Check My Work Lastly, the balance sheet is created. This statement shows the ending balances of the assets, liabilities and owner's equity at the endi Feedback Check My Work Partially correct Check My Work s items e: 32.06% here to search WAVE ID PCPro JUST STAND ORG
Transcribed Image Text:Feedback Check My Work The second statement that would be created is the statement of owner's equity which shows the changes in capital for the peric HEET 3. Prepare a balance sheet as of January 31, 20--. HEET Creighton Consulting Balance Sheet HEET January 31, 20-- Liabilities Assets Accounts payable X 1,590 X 9,820 x Owner's Equity Annette Creighton, capital X Total liabilities & owner's eguity 11.658 x Total assets 11,658 Feedback Check My Work Lastly, the balance sheet is created. This statement shows the ending balances of the assets, liabilities and owner's equity at the endi Feedback Check My Work Partially correct Check My Work s items e: 32.06% here to search WAVE ID PCPro JUST STAND ORG
Debit Credit Account Title Account No. Balance Balance Cash 101 10,021.00 Office Supplies 142 300.00 Office Equipment 181 1,500.00 Accounts Payable 202 1,600.00 Annette Creighton, Capital 311 10,000.00 Annette Creighton, Drawing 312 100.00 Consulting Fees 401 1,860.00 Wages Expense 511 720.00 Advertising Expense 512 26.00 Rent Expense 521 500.00 Phone Expense 525 42.00 Transportation Expense 526 185.00 Utilities Expense 533 38.00 Miscellaneous Expense 549 28.00 13,460.00 13,460.00 Required: 1. Prepare an income statement. Creighton Consulting Income Statement For Month Ended January 31, 20-- Revenues: V Accounts payable x 1,600.00 X Assets: X Office equipment x 1,500.00 X Office supplies x 300.00 X Check My Work
Transcribed Image Text:Debit Credit Account Title Account No. Balance Balance Cash 101 10,021.00 Office Supplies 142 300.00 Office Equipment 181 1,500.00 Accounts Payable 202 1,600.00 Annette Creighton, Capital 311 10,000.00 Annette Creighton, Drawing 312 100.00 Consulting Fees 401 1,860.00 Wages Expense 511 720.00 Advertising Expense 512 26.00 Rent Expense 521 500.00 Phone Expense 525 42.00 Transportation Expense 526 185.00 Utilities Expense 533 38.00 Miscellaneous Expense 549 28.00 13,460.00 13,460.00 Required: 1. Prepare an income statement. Creighton Consulting Income Statement For Month Ended January 31, 20-- Revenues: V Accounts payable x 1,600.00 X Assets: X Office equipment x 1,500.00 X Office supplies x 300.00 X Check My Work
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