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sets Accounts Accounts Owner's Owner's Cash + Receivable + Supplies + Equipment = Payable +_Capital - Drawings + Revenue - Expense +$15,000 -7,000 %3D +$15,000 +$7,000 +$1,600 +$1,600 +1,200 +$1,200 +250 -$250 +1,500 +$2,000 +3,500 -600 -600 .900 .900

sets Accounts Accounts Owner's Owner's Cash + Receivable + Supplies + Equipment = Payable +_Capital - Drawings + Revenue - Expense +$15,000 -7,000 %3D +$15,000 +$7,000 +$1,600 +$1,600 +1,200 +$1,200 +250 -$250 +1,500 +$2,000 +3,500 -600 -600 .900 .900

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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3. Prepare Trial Balance 4. Prepare Income Statement and 5. Prepare Balance Sheet
Transcribed Image Text:3. Prepare Trial Balance 4. Prepare Income Statement and 5. Prepare Balance Sheet
Assets Liabilities Owner's Equity Accounts Accounts Owner's Owner's No. Cash + Receivable + Supplies + Equipment = Payable_+_Capital - Drawings + Revenue - Expense 1 +$15,000 -7,000 +$15,000 +$7,000 2 +$1,600 +$1,600 3 +1,200 +$1,200 5 +250 -$250 6 +1,500 +$2,000 +3,500 7 -600 -600 -900 -900 -200 -200 -250 -250 +600 -600 -$1,300 $1,600 +_ $15,000 -_$1,300 + _ $4,700 - $1,950 10 -1,300 $ 8,050+ $1,400 +_$1,600 + $7,000 =
Transcribed Image Text:Assets Liabilities Owner's Equity Accounts Accounts Owner's Owner's No. Cash + Receivable + Supplies + Equipment = Payable_+_Capital - Drawings + Revenue - Expense 1 +$15,000 -7,000 +$15,000 +$7,000 2 +$1,600 +$1,600 3 +1,200 +$1,200 5 +250 -$250 6 +1,500 +$2,000 +3,500 7 -600 -600 -900 -900 -200 -200 -250 -250 +600 -600 -$1,300 $1,600 +_ $15,000 -_$1,300 + _ $4,700 - $1,950 10 -1,300 $ 8,050+ $1,400 +_$1,600 + $7,000 =
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