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My Assistant Accounting Equation for January Accounting Equation Balanced? Assets Liabilities Stockholders' Equity %3D Account titles for RE Retained Earnings 303 Accounts Fees Notes Common Cash %3D %3D Item Stock Payable 2$ Receivable Payable 903 500 + 100 $ Yes Balance Jan 1 %24 1,200 Service Revenue Yes 1,200 24 %3D 1. Complete jobs Yes + %3D Yes (280) Gas Expense (120) Advertising Expense (164) Scheduling Expense 24 (280) (120) (164) (240) (400) %3D 2. Purchase gas 3. Paid newspaper 4. Pay SMM 2$ Yes 2$ %3D Yes %$4 (240) Delivery Expense (400) Salary Expense %3D Yes $ 24 5. Pay friends to do jobs 6. Pay W.T. salary 7. Partial loan repayment 8. Complete jobs and bill clients 9. Accrue amount due to SMM Balance January 31 Totals at January 31 %3D Yes %3D Yes 2$ (100) (100)+ %3D Service Revenue No 495 %3D Yes 400 + 100 No 24 2$ 495 %24 %3D 495 =$ 400 100 %3D

My Assistant Accounting Equation for January Accounting Equation Balanced? Assets Liabilities Stockholders' Equity %3D Account titles for RE Retained Earnings 303 Accounts Fees Notes Common Cash %3D %3D Item Stock Payable 2$ Receivable Payable 903 500 + 100 $ Yes Balance Jan 1 %24 1,200 Service Revenue Yes 1,200 24 %3D 1. Complete jobs Yes + %3D Yes (280) Gas Expense (120) Advertising Expense (164) Scheduling Expense 24 (280) (120) (164) (240) (400) %3D 2. Purchase gas 3. Paid newspaper 4. Pay SMM 2$ Yes 2$ %3D Yes %$4 (240) Delivery Expense (400) Salary Expense %3D Yes $ 24 5. Pay friends to do jobs 6. Pay W.T. salary 7. Partial loan repayment 8. Complete jobs and bill clients 9. Accrue amount due to SMM Balance January 31 Totals at January 31 %3D Yes %3D Yes 2$ (100) (100)+ %3D Service Revenue No 495 %3D Yes 400 + 100 No 24 2$ 495 %24 %3D 495 =$ 400 100 %3D

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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I need to figure out the Balance January 31 and the Complete jobs and bill clients.
ave 2 Share Draw Page Layout Formulas Data Review View O Tell me Insert E Insert v Σ v A A 国、 2 Wrap Text v E Delete v Conditional Format Formatting as Table Styles Sort & Filter Find & Select Analyze Data Cell E E E $ v % 9 8 % BIU H Av Merge & Center v E Format v x fx Gas Expense M K C D G B My Assistant Accounting Equation for January Liabilities Stockholders' Equity Accounting + Assets %3D Equation Balanced? Retained Account titles for RE Accounts Fees Notes Common Cash %3D Payable 500 + Earnings 303 1,200|Service Revenue Item Receivable Payable Stock 100 $ Yes 903 %3D Balance Jan 1 Yes 1,200 1. Complete jobs Yes 2$ (280)|Gas Expense Yes + (280) 2. Purchase gas 3. Paid newspaper 4. Pay SMM 5. Pay friends to do jobs 6. Pay W.T. salary 7. Partial loan repayment %3D (120) Advertising Expense Yes 2$ (164) Scheduling Expense (240) Delivery Expense (400) Salary Expense (120) 24 $ Yes 2$ + (164) (240) %3D Yes $4 24 2$ %3D Yes %24 $ (400) %3D Yes $ (100) + (100) %3D Service Revenue No 495 + 8. Complete jobs and bill clients 9. Accrue amount due tO SMM Balance January 31 Totals at January 31 %3D Yes + %3D 100 No $ $ 495 2$ 400 + %3D 495 $ 400 100 + A Accounting Equation A Income & Cash Flow A Additional Practice Ready MacBook Air
Transcribed Image Text:ave 2 Share Draw Page Layout Formulas Data Review View O Tell me Insert E Insert v Σ v A A 国、 2 Wrap Text v E Delete v Conditional Format Formatting as Table Styles Sort & Filter Find & Select Analyze Data Cell E E E $ v % 9 8 % BIU H Av Merge & Center v E Format v x fx Gas Expense M K C D G B My Assistant Accounting Equation for January Liabilities Stockholders' Equity Accounting + Assets %3D Equation Balanced? Retained Account titles for RE Accounts Fees Notes Common Cash %3D Payable 500 + Earnings 303 1,200|Service Revenue Item Receivable Payable Stock 100 $ Yes 903 %3D Balance Jan 1 Yes 1,200 1. Complete jobs Yes 2$ (280)|Gas Expense Yes + (280) 2. Purchase gas 3. Paid newspaper 4. Pay SMM 5. Pay friends to do jobs 6. Pay W.T. salary 7. Partial loan repayment %3D (120) Advertising Expense Yes 2$ (164) Scheduling Expense (240) Delivery Expense (400) Salary Expense (120) 24 $ Yes 2$ + (164) (240) %3D Yes $4 24 2$ %3D Yes %24 $ (400) %3D Yes $ (100) + (100) %3D Service Revenue No 495 + 8. Complete jobs and bill clients 9. Accrue amount due tO SMM Balance January 31 Totals at January 31 %3D Yes + %3D 100 No $ $ 495 2$ 400 + %3D 495 $ 400 100 + A Accounting Equation A Income & Cash Flow A Additional Practice Ready MacBook Air
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