Scribd Logo
Upload

Welcome to Scribd!

  • IV. T-Accounts

    Uploaded by

    anika.delaluna
    4 views3 pages
    1) The document shows the transactions of JS Carwash for the year ended December 31, 2020. 2) It includes an income statement showing revenue of $87,000 and expenses of $30,000 for rent and $35,000 for salaries for net income of $22,000. 3) It also includes a statement of financial position as of December 31, 2020 with total assets of $360,000 including cash, accounts receivable, supplies, and equipment, and total liabilities and equity of $360,000 including accounts payable of $38,000 and owner's equity of $322,000.

    Original Description:

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    1) The document shows the transactions of JS Carwash for the year ended December 31, 2020. 2) It includes an income statement showing revenue of $87,000 and expenses of $30,000 for rent and $35,000 for salaries for net income of $22,000. 3) It also includes a statement of financial position as of December 31, 2020 with total assets of $360,000 including cash, accounts receivable, supplies, and equipment, and total liabilities and equity of $360,000 including accounts payable of $38,000 and owner's equity of $322,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    4 views3 pages

    IV. T-Accounts

    Uploaded by

    anika.delaluna
    1) The document shows the transactions of JS Carwash for the year ended December 31, 2020. 2) It includes an income statement showing revenue of $87,000 and expenses of $30,000 for rent and $35,000 for salaries for net income of $22,000. 3) It also includes a statement of financial position as of December 31, 2020 with total assets of $360,000 including cash, accounts receivable, supplies, and equipment, and total liabilities and equity of $360,000 including accounts payable of $38,000 and owner's equity of $322,000.

    Copyright:

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

    Cash Jenny,Capital Equipment

    Debit Credit Debit Credit Debit Credit


    ₱ 300,000.00 72000 8 ₱ 300,000.00 8 ₱ 72,000.00
    27 ₱ 34,800.00 57000 28
    35000 30
    30000 30
    ₱334,800 194,000
    ₱140,800 Accounts Payable Salaries Expense
    Debit Credit Debit Credit
    Accounts Receivable 28 57,000 95,000 15 30 ₱ 35,000.00
    Debit Credit ₱ 38,000.00
    16 ₱ 52,200.00

    Service Income Rent Expense


    Debit Credit Debit Credit
    Store Supplies 52,200 16 30 ₱ 30,000.00
    Debit Credit 34,800 27
    15 ₱ 95,000.00 ₱ 87,000.00
    Owner's Equity
    Jenny, Capital 300,000
    Service Income 87,000
    Rent Expense -30,000
    Salaries Expense -35,000

    Jenny, Capital, End ₱ 322,000.00

    JS CARWASH JS CARWASH
    Income Statement Statement of Financial Position
    For the year ended December 31, 2020 December 31,2020

    Service Income 87,000 ASSETS


    Rent Expense -30,000 Cash
    Salaries Expense -35,000 Accounts Receivable
    Net Income ₱ 22,000.00 Store Supplies
    Equipment
    Total Assets
    LIABILITIES
    Accounts Payable

    EQUITY
    Jenny, Capital
    Total Liabilities & Equity
    JS CARWASH
    ement of Financial Position
    December 31,2020

    ASSETS
    ₱ 140,800.00
    ₱ 52,200.00
    ₱ 95,000.00
    ₱ 72,000.00
    ₱ 360,000.00
    LIABILITIES
    ₱ 38,000.00

    EQUITY
    ₱ 322,000.00
    ₱ 360,000.00

    You might also like