Professional Documents
Culture Documents
Guidance Report
Week One
Ch
Based U
Exercise/ Account to Original
Problem be changed Amount Jan-Feb
Ch 1 - Ex 2 Building 30,000 32,200
Fee Revenue 56,900 60,100
Loan Payable 40,000 44,200
YOUR ANSWERS
BASED UPON
Questions
COURSE START
DATE
1. Total Assets
2. Total Liabilities
3. Net Income
Account to Original
be changed Amount
Ch 1- Ex 8 Income statement
Total expenses 64900 65,900
Ending owner's equity balance 70800 $ 71,150
Total liabilities 97000 $ 97,375
YOUR ANSWERS
BASED UPON
COURSE START
DATE
Ch 1- Ex 8 Total revenues for the year
Total owner investments
Total assets
Reference Video
Ch 1 Pb 3
Account to Original
be changed Amount
Surgery Revenue 175000 185,000
Cash 60000 70,000
YOUR ANSWERS
BASED UPON
COURSE START
DATE
Income Statement
Surgery Revenue
Total Revenue
Expenses:
Surgical Expenses
Salaries Expense
Utilities Expense
Rent Expense
Total Expenses
Net Income(Loss)
Balance sheet
Assets:
Cash
Accounts Receivable
Office Equipment
Surgical Equipment
Total Assets
Liabilities:
Accounts Payable
Loan Payable
Total Liabilities
YOUR ANSWERS
Prepare an income statement for BASED UPON
the month ending October 31, COURSE START
20X6. DATE
Services performed
Expenses:
Salary expense
Advertising expense
Taxes
Postage
Utilities
Interest
Misc
Total expenses
Net Income
Prepare a statement of owner's
equity for the month ending
October 31, 20X6.
Beginning balance
Investments
Withdrawals
Net Income
Ending balance
Account to Original
be changed Amount
Fees Earned 18900