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Home Q & A Board Other Fields Homework Help Business Accounting
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gOOvER gOOvER
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6 years ago
On January 1, 2013, William Kelly started Kelly's Computer Service by investing $10,000. On January 3, the business borrowed $10,000 from a creditor and executed a Note payable with the principal and interest to be due in one year. On January 5, the business purchased $12,000 of equipment for cash. On January 8, Kelly's rendered service to his first corporate client and earned $2,500 in cash. On January 12, Kelly's incurred repair expense of $1,200 and promised to pay the repair contractor the following month. On January 18, Kelly's rendered service to a new client in the amount of $6,000 "on account" (the client promised to pay the following month). At the end of January, Kelly took a withdrawal of $1,000. Prepare an income statement for the month of January, a statement of owner's equity for the month of January, and a balance sheet at January 31, 2013.
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Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
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KryzenKryzen
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