From the following account balances, prepare in proper form for September (a) an income statement, (b) a statement of owner's equity, and (c) a balance sheet for Fairmont Realty. View the accounts. (a) Prepare the income statement. Complete the heading as well as the body of the statement. (If an input field is not used in the income statement, leave the field empty; do not select a label or enter a zero.) Fairmont Realty Accounts Cash Accounts Receivable Office Equipment Accounts Payable S. Fairmont, Capital, Sep. 1, 202X $ 7,050 S. Fairmont, Withdrawals 1,000 Professional Fees 9,900 Salaries Expense 9,000 Utilities Expense 6,410 Rent Expense Print Done S 175 3,800 500 110 475

From the following account balances, prepare in proper form for September (a) an income statement, (b) a statement of owner's equity, and (c) a balance sheet for Fairmont Realty. View the accounts. (a) Prepare the income statement. Complete the heading as well as the body of the statement. (If an input field is not used in the income statement, leave the field empty; do not select a label or enter a zero.) Fairmont Realty Accounts Cash Accounts Receivable Office Equipment Accounts Payable S. Fairmont, Capital, Sep. 1, 202X $ 7,050 S. Fairmont, Withdrawals 1,000 Professional Fees 9,900 Salaries Expense 9,000 Utilities Expense 6,410 Rent Expense Print Done S 175 3,800 500 110 475

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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2. Add two new expense accounts to the chart of accounts you prepared. Assign each account numbers based on where they would be placed in the chart of accounts. Miscellaneous Expense Utilities Expense Answer: Type answer here. 3. Prepare a T account for each transaction. Label the account title for each account affected. Use the chart for accounts you created in question 1. Write the debit and credit amounts for each T account to show how the accounts are affected. The first one is done. c. Received cash from owner, Roger Fisher, as an investment, $10,000.00 d. Paid cash for insurance, $ 2, 400.00 e. Bought supplies on a account to Salmon Slayers, $600.00 Paid cash for fuel, $500.00 Paid cash to owner, Roger Fisher, for personal use, $1,250.00
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please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
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