Question: prepare a balance sheet and income statement as a result...
- Prepare a balance sheet and income statement as a result of the following transactions:
- Deposit $3000 in a bank account
- Rent a van at a cost of $400
- Purchase a power sweeper for $900
- Order 2000 circulars and paid the printer $120
- Purchase $300 worth of cleaning supplies
- Bought equipment worth $900; paid $200 now and will pay the balance later.
- Earned $350 for washing windows
- Received $900 in fees for work performed
- Purchased supplies for $80, with cash
- Hired a helper and paid him $240
- Earned $400 in fees for work; payment will be received later.
- Owner withdrew $1000 from the business for personal use
- Received a phone bill for $20, and payment will be made later.
- Paid the landlord $300
- Received $2000 for work performed.