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On December 31, Hawkin's records show the following accounts. Ceph Accounts Receivable Supplies Equipment Accounts Payable Hakin, Capital, December 1 Hakin, withdrawals Services Revenue Wages Expense Rent Expense 16,300 8,000 Use the above information to prepare a December balance sheet for Hawkin HAWKIN Statement of Owner's Equity For Month Ended December 31 Hawkin Capital December 1 Add Investments by owner Add Net income Less Withdrawals by owner Hawkin, Capital, December 31 Use the above information to prepare a December balance sheet for Hawkin HAWKIN Balance Sheet December 31 Assets Cash Accounts receivable Supplies $ Equipment Consulting fees eamed Liabilities Accounts payable Miscellaneous expenses Equity Hawkin Capital Hawkin, Withdrawals Total Assets $ Total Liabilities and Equity Use the above information to prepare a statement of owner's equity for Hawkin for the month ended December 31. Hint: Owner investments are $0 for the period. Hawkin, withdrawals Services Revenue Wages Expense Rent Expense Utilities Expense Use the above information to prepare a December income statement for Hawkin. HAWKIN Income Statement For Month Ended December 31 Revenues Services revenue $ 16.300 Expenses Accounts payable $ 6.300 Wages expense 8.000 Rent expense Utilities expense Total expenses 1,800 1.000 Net loss 17.100 $ (800)

On December 31, Hawkin's records show the following accounts. Ceph Accounts Receivable Supplies Equipment Accounts Payable Hakin, Capital, December 1 Hakin, withdrawals Services Revenue Wages Expense Rent Expense 16,300 8,000 Use the above information to prepare a December balance sheet for Hawkin HAWKIN Statement of Owner's Equity For Month Ended December 31 Hawkin Capital December 1 Add Investments by owner Add Net income Less Withdrawals by owner Hawkin, Capital, December 31 Use the above information to prepare a December balance sheet for Hawkin HAWKIN Balance Sheet December 31 Assets Cash Accounts receivable Supplies $ Equipment Consulting fees eamed Liabilities Accounts payable Miscellaneous expenses Equity Hawkin Capital Hawkin, Withdrawals Total Assets $ Total Liabilities and Equity Use the above information to prepare a statement of owner's equity for Hawkin for the month ended December 31. Hint: Owner investments are $0 for the period. Hawkin, withdrawals Services Revenue Wages Expense Rent Expense Utilities Expense Use the above information to prepare a December income statement for Hawkin. HAWKIN Income Statement For Month Ended December 31 Revenues Services revenue $ 16.300 Expenses Accounts payable $ 6.300 Wages expense 8.000 Rent expense Utilities expense Total expenses 1,800 1.000 Net loss 17.100 $ (800)

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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On December 31, Hawkin's records show the following accounts. Ceph Accounts Receivable Supplies Equipment Accounts Payable Hakin, Capital, December 1 Hakin, withdrawals Services Revenue Wages Expense Rent Expense 16,300 8,000 Use the above information to prepare a December balance sheet for Hawkin HAWKIN Statement of Owner's Equity For Month Ended December 31 Hawkin Capital December 1 Add Investments by owner Add Net income Less Withdrawals by owner Hawkin, Capital, December 31 Use the above information to prepare a December balance sheet for Hawkin HAWKIN Balance Sheet December 31 Assets Cash Accounts receivable Supplies $ Equipment Consulting fees eamed Liabilities Accounts payable Miscellaneous expenses Equity Hawkin Capital Hawkin, Withdrawals Total Assets $ Total Liabilities and Equity Use the above information to prepare a statement of owner's equity for Hawkin for the month ended December 31. Hint: Owner investments are $0 for the period. Hawkin, withdrawals Services Revenue Wages Expense Rent Expense Utilities Expense Use the above information to prepare a December income statement for Hawkin. HAWKIN Income Statement For Month Ended December 31 Revenues Services revenue $ 16.300 Expenses Accounts payable $ 6.300 Wages expense 8.000 Rent expense Utilities expense Total expenses 1,800 1.000 Net loss 17.100 $ (800)
Transcribed Image Text:On December 31, Hawkin's records show the following accounts. Ceph Accounts Receivable Supplies Equipment Accounts Payable Hakin, Capital, December 1 Hakin, withdrawals Services Revenue Wages Expense Rent Expense 16,300 8,000 Use the above information to prepare a December balance sheet for Hawkin HAWKIN Statement of Owner's Equity For Month Ended December 31 Hawkin Capital December 1 Add Investments by owner Add Net income Less Withdrawals by owner Hawkin, Capital, December 31 Use the above information to prepare a December balance sheet for Hawkin HAWKIN Balance Sheet December 31 Assets Cash Accounts receivable Supplies $ Equipment Consulting fees eamed Liabilities Accounts payable Miscellaneous expenses Equity Hawkin Capital Hawkin, Withdrawals Total Assets $ Total Liabilities and Equity Use the above information to prepare a statement of owner's equity for Hawkin for the month ended December 31. Hint: Owner investments are $0 for the period. Hawkin, withdrawals Services Revenue Wages Expense Rent Expense Utilities Expense Use the above information to prepare a December income statement for Hawkin. HAWKIN Income Statement For Month Ended December 31 Revenues Services revenue $ 16.300 Expenses Accounts payable $ 6.300 Wages expense 8.000 Rent expense Utilities expense Total expenses 1,800 1.000 Net loss 17.100 $ (800)
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