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  • SKZ Transac

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    Daniel Romano
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    The income statement shows revenues of $9,500 from services. Expenses include $300 for utilities, $100 for dividends, and $3,600 for salaries. Total expenses are $4,000, resulting in net income of $5,500. The trial balance lists account balances, including $24,800 cash, $1,200 accounts receivable, and $20,000 common stock. Total assets are $30,000 and equal total liabilities of $4,500 and owner's equity of $25,500.

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    SKZ

    Original Title

    SKZ TRANSAC

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    The income statement shows revenues of $9,500 from services. Expenses include $300 for utilities, $100 for dividends, and $3,600 for salaries. Total expenses are $4,000, resulting in net income of $5,500. The trial balance lists account balances, including $24,800 cash, $1,200 accounts receivable, and $20,000 common stock. Total assets are $30,000 and equal total liabilities of $4,500 and owner's equity of $25,500.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    2 views3 pages

    SKZ Transac

    Uploaded by

    Daniel Romano
    The income statement shows revenues of $9,500 from services. Expenses include $300 for utilities, $100 for dividends, and $3,600 for salaries. Total expenses are $4,000, resulting in net income of $5,500. The trial balance lists account balances, including $24,800 cash, $1,200 accounts receivable, and $20,000 common stock. Total assets are $30,000 and equal total liabilities of $4,500 and owner's equity of $25,500.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 3

    Printing plus

    Income statement

    Revenue
    Service revenue $9,500

    Total revenue $9,500

    Expenses

    Utility $300

    Dividends $100

    Salaries expense $3600

    Total expenses $4,000

    Net income $5,500


    Unadjusted Trial Balance

    Account DEBIT CREDIT


    Cash 24,800
    Accounts Receivable 1,200
    Supplies 500
    Equipment 3,500
    Account Payable 500
    Unearned Revenue 4,000
    Common Stock 20,000
    Dividends 100
    Service Revenue 9,500
    Salaries Expense 3600
    Utility Expense 300
    Total 34,000 34,000
    ASSETS LIABILITES
    CASH 24,800 ACCOUNTS PAYABLE 500
    ACCOUNTS RECEIVABLE 1,200 UNEARNED REVENUE 4,000
    SUPPLIES 500    
    EQUIPMENT 3,500    
           
        TOTAL LIABILITIES 4,500
           
           
        OWNER'S EQUITY
        COMMON STOCK 20,000
        ADD: NET INCOME 5,500
        ADD: DIVIDENDS 100
           
        TOTAL OWNER'S EQUITY 25,500
           
    TOTAL ASSETS 30,000 TOTAL LIABILITIES & O.E. 30,000
    Balance Sheet

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