Accounting

CopyofHP_22e_P03-15B.xlsx

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P 3-15B

Problem 3-15B	Name:
Enter the appropriate answers in the shaded (gray) cells, or select from the drop-down list.
An asterisk (*) will appear in the column to the right of an incorrect answer.
1.
Jantz Plumbing Service
Income Statement
For the Month Ended August 31, 20--
Revenue:
Service fees		$ 9,800
Expenses:
Advertising expense			$ 2,000
Rent expense			700
Wages expense			500
Telephone expense		100
Total expenses		Mark Sears: Enter as a formula that totals the amounts you entered in column J		3,300 Mark Sears: Enter as a formula that totals the amounts you entered in column J
Net income	Mark Sears: Enter as a formula		$ 6,500 Mark Sears: Enter as a formula
2.
Jantz Plumbing Service
Statement of Owner's Equity
For the Month Ended August 31, 20--
Sue Jantz, capital				August 1 20--	0
			Add: Investments during August	30000
Total investment	Mark Sears: Enter as a formula		$ 30,000 Mark Sears: Enter as a formula
			Add: Net income for August	6500
	Mark Sears: Enter as a positive number		Less: Withdrawals for August	3000
in capital	Mark Sears: Enter as a formula		$ 3,500 Mark Sears: Enter as a formula
Sue Jantz, capital			Mark Sears: Enter as a formula		August 31 20--	$ 33,500 Mark Sears: Enter as a formula
3.
Jantz Plumbing Service
Balance Sheet
August 31, 20--
Assets	Liabilities
Cash		Accounts payable			$ 20,200	$ 4,500
Accounts receivable				2,700
Office supplies		Owner's Equity	300
Prepaid insurance		Sue Jantz, capital		800	33,500
Plumbing equipment				6,000
Van			8,000
Total liab. & owner's
Total assets	Mark Sears: Enter as a formula		equity	Mark Sears: Enter as a formula		$ 38,000 Mark Sears: Enter as a formula	$ 38,000 Mark Sears: Enter as a formula