Asked by Jon
Please Help. I can't get the balance sheet to balance out at at. I am frustrated!
Prepare a Trial Balance, an Income Statement and a Balance Sheet.
Doris' Custom Designs
Jan. 1 Doris deposits $10,000 in the bank to start her business.
(Hint: use "misc. credit" column.)
Jan. 2 Doris pays $800 for rent for January. (Cheque #100)
Jan. 6 Doris pays $1,200 to a local newspaper for an "advertorial". (Cheque #101)
Jan. 6 Doris receives $2,200 cash for her first design consultation.
Jan. 10 Doris pays $600 to a part-time secretary. (Cheque #102)
Jan. 11 Doris purchases office supplies for $160. (Cheque #103)
Jan. 15 Doris receives $1,200 cash for another design consulting job.
Jan. 20 Doris purchases new computer equipment for $3,600. (Cheque #104)
Jan. 24 Doris pays $400 to produce flyers promoting her business. She uses cheque #105.
Jan. 30 Doris receives her telephone bill for January for $180. She pays it with cheque #106.
Jan. 30 Doris pays $160 to the hydro company for her office, using cheque #107.
Jan. 31 Doris receives $3,800 for a large consulting job that she has just completed.
Prepare a Trial Balance, an Income Statement and a Balance Sheet.
Doris' Custom Designs
Jan. 1 Doris deposits $10,000 in the bank to start her business.
(Hint: use "misc. credit" column.)
Jan. 2 Doris pays $800 for rent for January. (Cheque #100)
Jan. 6 Doris pays $1,200 to a local newspaper for an "advertorial". (Cheque #101)
Jan. 6 Doris receives $2,200 cash for her first design consultation.
Jan. 10 Doris pays $600 to a part-time secretary. (Cheque #102)
Jan. 11 Doris purchases office supplies for $160. (Cheque #103)
Jan. 15 Doris receives $1,200 cash for another design consulting job.
Jan. 20 Doris purchases new computer equipment for $3,600. (Cheque #104)
Jan. 24 Doris pays $400 to produce flyers promoting her business. She uses cheque #105.
Jan. 30 Doris receives her telephone bill for January for $180. She pays it with cheque #106.
Jan. 30 Doris pays $160 to the hydro company for her office, using cheque #107.
Jan. 31 Doris receives $3,800 for a large consulting job that she has just completed.
Answers
Answered by
SraJMcGin
I get Debits of 7,100.
Credits of 17,200 (including misc. credit of 10,000)
Net Income of 100, if you ignore the 10,000.
Sra
Credits of 17,200 (including misc. credit of 10,000)
Net Income of 100, if you ignore the 10,000.
Sra
Answered by
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