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Balance Sheet Income Statement

Cash Noncash Liabil- Contrib. Earned Rev- Expen- Net


Transaction + = + + =
Asset Assets ities Capital Capital enues ses Income

+11,400
11,400 +11,400
1) = (Retained = +11,400
(Fees Rec.) (Sales)
Earnings)

-4,800 -4,800 +4,800


2) (Prepaid = (Retained (Advert. = -4,800
Advertising) Earnings) Exp.)

+4,800
-4,800 -4,800
(Maint-
3) (Prepaid = (Retained = -4,800
enance
Expenses) Earnings)
Exp)

+1,920 -1,920 +1,920


4) = (Rent (Retained (Rent = -1,920
Payable) Earnings) Exp.)

+1,200 +1,200 +1,200


5) (Interest = (Retained (Interest = +1,200
Receivable) Earnings) Income)

-10,440 +10,440
-10,440
6) = (Retained (Depn = -10,440
(PPE, net)
Earnings) Exp.)

+15,000 -15,000 +15,000


7) = (Wages (Retained (Wages = -15,000
Payable) Earnings) Exp.)

+12,450
+12,450 +12,450
8) = (Retained = +12,450
(AR) (Sales)
Earnings)

+2,400 -2,400 +2,400


9) = (Interest (Retained (Interest = -2,400
Payable) Earnings) Exp.)

-12,000 +12,000
+12,000
10) = (Unearned (Retained = +12,000
(Sales)
Revenue) Earnings)