1. Ross Consultants began operations on December 1, 2021.

The financial statements for Ross

Consultants are shown below for the month ended December 31, 2021 (the first month of
operations). Determine the missing amounts for letters (a) through (k).

Ross Consultants
Income Statement
For the Month Ended December 31, 2021
Fees earned $20,000
Operating expenses:
Wages expense $6,250
Rent expense 3600
Supplies expense 1,600
Utilities expense 900
Miscellaneous expense 1,550
Total operating expenses (13900)
Net income $ 6.100
=======

Ross Consultants
Statement of Owner's Equity
For the Month Ended December 31, 2021
Joe Ross, capital, December 1, 2021 0
Investment on December 1, 2021 $30,000
Net income for December
6.100
$
36.100
Less withdrawals 4,000
Increase in owner's equity 32.100
Joe Ross, capital, December 31, 2021 $32,100
=======
Ross Consultants
Balance Sheet
December 31, 2021
Assets Liabilities
Cash $ 16.000 Accounts payable $ 13.800
Supplies 1,100 Owner's Equity
Land 28.000 Joe Ross, capital 32.100
Total assets $45,900 Total liabilities and
======= owner's equity $ 45.000
 Place your answers in the space provided below. Hint: Use the interrelationships among the
financial statements to solve this problem.
(a) $ 3600
(b) $ 13900
(c) $ 6100
(d) $ 6100
(e) $ 36100
(f) $ 32100
16000
(g) $
(h) $ 28000
(i) $ 13800
(j) $ 32100
(k) $ 45.000