Required information Use the following information for the Quick Studies below. (- [The following information applies to the questions displayed below.] On December 31, Hawkin's records show the following accounts.we Cash Accounts Receivable Supplies Equipment Accounts Payable Hawkin, Capital, December 1 Hawkin, Withdrawals Services Revenue Wages Expense Rent Expense Utilities Expense $ 7,900 900 2,000 14,700 7,400 17,500 3,800 17,400 8,000 2,900 2,100 S 1-17 (Algo) Preparing a balance sheet LO P2
Required information Use the following information for the Quick Studies below. (- [The following information applies to the questions displayed below.] On December 31, Hawkin's records show the following accounts.we Cash Accounts Receivable Supplies Equipment Accounts Payable Hawkin, Capital, December 1 Hawkin, Withdrawals Services Revenue Wages Expense Rent Expense Utilities Expense $ 7,900 900 2,000 14,700 7,400 17,500 3,800 17,400 8,000 2,900 2,100 S 1-17 (Algo) Preparing a balance sheet LO P2
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
s
![Required information
Use the following information for the Quick Studies below. (Algo)
[The following information applies to the questions displayed below.]
On December 31, Hawkin's records show the following accounts.
Cash
Accounts Receivable
Supplies
Equipment
Accounts Payable
Hawkin, Capital, December 1
Hawkin, Withdrawals
Services Revenue
Wages Expense
Rent Expense
Utilities Expense
Assets
QS 1-17 (Algo) Preparing a balance sheet LO P2
Use the above information to prepare a December balance sheet for Hawkin.
Total Assets
$ 7,900
900
$
2,000
14,700
7,400
17,500
3,800
17,400
8,000
2,900
2,100
Equity
HAWKIN
Balance Sheet
December 31
Liabilities
0 Total Liabilities and Equity
$
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F782a0318-775f-415d-b3e0-47f009dce30c%2F2a84d647-396f-4c1c-b7ee-5c60642bc722%2Fe0zcabh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
Use the following information for the Quick Studies below. (Algo)
[The following information applies to the questions displayed below.]
On December 31, Hawkin's records show the following accounts.
Cash
Accounts Receivable
Supplies
Equipment
Accounts Payable
Hawkin, Capital, December 1
Hawkin, Withdrawals
Services Revenue
Wages Expense
Rent Expense
Utilities Expense
Assets
QS 1-17 (Algo) Preparing a balance sheet LO P2
Use the above information to prepare a December balance sheet for Hawkin.
Total Assets
$ 7,900
900
$
2,000
14,700
7,400
17,500
3,800
17,400
8,000
2,900
2,100
Equity
HAWKIN
Balance Sheet
December 31
Liabilities
0 Total Liabilities and Equity
$
0
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education