1 Assets = Liabilities +

= Accts. + Chad W, –
Efectivo + Accts.rec + Supplies Payable Capital
a) 30000 30000
b) 1800 1800
Saldo 30000 1800 1800 30000
c 10000
Saldo 40000 1800 1800 30000
d -4500
Saldo 35500 1800 1800 30000
e -1250 -1250
Saldo 34250 1800 550 30000
f 16800
Saldo 34250 16800 1800 550 30000
g -1730
Saldo 32520 16800 1800 550 30000
h -4000
Saldo 28520 16800 1800 550 30000
i -1120
Saldo 28520 16800 680 550 30000
j -7500
Saldo 21020 16800 680 550 30000

Estado de resultados Estado de cambios en el cap

por el mes de de junio 20XX por el mes de de junio

Ventas $ 26,800 Saldo al 1 de junio

Gastos Aportaciones de capital
Gasto de renta $ 4,500 Utilidad del mes de junio
Salarios $ 4,000 Retiros del dueño
Supplies $ 1,120 Movimientos del mes
Gastos de auto $ 750 Saldo de la cuenta de capit
Gastos varios $ 980
Total de gastos $ 11,350
Utilidad $ 15,450
 Owner's Equity
Chad Wilson, + – Rent – Salaries – Supplies – –
Withdrawals Fees Earned expense Expense Expense Auto EXP

10000
10000
-4500
10000 -4500

10000 -4500
16800
26800 -4500
-750
26800 -4500 -750
-4000
26800 -4500 -4000 -750
-1120
26800 -4500 -4000 -1120 -750
-7500
-7500 26800 -4500 -4000 -1120 -750

Estado de cambios en el capital contable Balance General

por el mes de de junio 20XX al 31 de junio de 20XX
Activos : Pasivos
$ - Efectivo $ 21,020 Cuentas por pagar
ciones de capital $ 30,000 Ctas por cobrar $ 16,800 Total pasivos
d del mes de junio $ 15,450 Supplies $ 680
-7500 Total de activos $ 38,500
Movimientos del mes $ 37,950 Capital
Saldo de la cuenta de capital contable $ 37,950 Capital contable
Pasivo mas capital
 Misc.exp
0

-980
-980

-980

-980

-980

General
io de 20XX

ntas por pagar 550

550

tal contable $ 37,950

vo mas capital $ 38,500
 On June 1 of the current year, Chad Wilson established a business to manage rental
property. He completed the following transactions during June:
a. Opened a business bank account with a deposit of $30,000 from personal funds.
c) recibed cash from fees for managing rental property $10,00
b) Purchased office supplies on account, $1,800
d. Paid rent on office and equipment for the month, $4,500.
e. Paid creditors on account, $1,250
f)Billed customers for fees earned for managing rental property, $16,800.
g)Paid automobile expenses (including rental charges) for the month, $750, and miscelaneous expenses, $980.
h) Paid office salaries $4,000
i) Determine that the cost of supplies on hand was $680, therefore, the costo of supplies used was $1,120
J Withdrew cash for personal use, $7,500

Instructions
1. Indicate the effect of each transaction and the balances after each transaction, using the following tabular headings:
2.Briefly explain why the owner’s investment and revenues increased owner’s equity, while withdrawals and expenses decreased owner’s equity.
3. Determine the net in come por june
4. Who How much did June’s transactions increase or decrease Chad Wilson’s capital?
Problem 1-3A
Name:
Section:

Score: 0%

Key Code: [Key code here]

Instructions
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1. CHAD WILSON
Income Statement
For the Month Ended July 31, 2019

Fees earned $ 26,800

Expenses:
Auto expense $ 750
Miscellaneous expense 980
Rent expense 4,500
Salaries expense 4,000
Supplies expense 1,120
Total expenses 11,350
Net income $ 15,450

2. CHAD WILSON
Statement of Owner's Equity
For the Month Ended July 31, 2019

Seth Feye, capital, July 1, 2019 $ -

Investment on July 1 $ 30,000
Net income for the month 15,450
Withdrawals (7,500)
37,950
Seth Feye, capital, July 31, 2019 $ 37,950

3. CHAD WILSON
Balance Sheet
July 31, 2019

Assets
 Cash $ 21,020
Accounts receivable 16,800
Supplies 680
Total assets $ 38,500

Liabilities
Accounts payable $ 550
Owner's Equity
Retained earnings 37,950
Total liabilities and owner's equity $ 38,500

4. CHAD WILSON
Statement of Cash Flows

Cash flows from operating activities:

Cash receipts from customers
Cash payments for expenses and
payments to creditors
Net cash flow used for operating activities

Cash flows from investing activities

Cash flows from financing activities:

Cash receipt of owner's investment
Cash withdrawal by owner
Net cash flow from financing activities

Net increase in cash and July 31, 2019, cash balance