Professional Documents
Culture Documents
Assets = Liabilities
Accounts Notes
Transactions Cash + Receivable + Supplies + Equipment = Payable
$16,800.00
JUDI SALEM
Income Statement
For the month ending August 31, 2017
Revenues
Service Revenue $7,500.00
Expenses
Rent expense $900.00
Salary expense $2,500.00
Advertising expense $400.00
Utilities expense $270.00
Total Expense $4,070.00
Net Income $3,430.00
JUDI SALEM
Owner's Equity Statement
For the month ending August 31, 2017
JUDI SALEM
Balance Sheet
For the month ending August 31, 2017
Assets
Cash $3,500.00
Accounts receivable $4,800.00
Supplies $500.00
Equipment $8,000.00
Total Assets $ 16,800.00
Owner's equity
Owner's capital $ 11,530.00
Total Liabilities and owner's equity $ 16,800.00
Liabilities + Owner's Equity
Accounts Owner's Owner's
+ Payable + Capital - Drawings + Revenues - Expenses
$4,200.00 $8,800.00
-$2,800.00
$7,500.00
$1,600.00
-2,500.00
-900.00
-$400.00
-$700.00
$270.00 -$270.00
$16,800.00