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)
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 15P: Investments in Equity Securities Manson Incorporated reported investments in equity securities of...
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Question
![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)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fce76587b-ebfc-489b-a1e8-77c60f519b71%2Fa68743d1-f19b-4d59-8eca-61c937faab84%2Fyowustt_processed.jpeg&w=3840&q=75)
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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