Accounting

ANSWERS

Problem #1: (20 points)

BI LOI, ACCURPUNCTURIST

Income Statement

For the Month Ended September 30, 2009

————————————————————————————————————

Revenues $___________

Expenses (list below)

____________________________________ $______________

____________________________________ ______________

__________________________________ ______________

____________________________________ ______________

Total expenses $___________

Net income $

BI LOI, ACCURPUNCTURIST

Owner's Equity Statement

For the Month Ended September 30, 2009

————————————————————————————————————

Bi Loi, Capital, September 1 $___________

Add: ________________________ _____________

Subtotal $____________

Less: ________________________ ____________

Bi Loi, Capital, September 30 $

Problem #1 (continued))

BI LOI, ACCURPUNCTURIST

Balance Sheet

September 30, 2009

———————————————————————————————————

Assets (list all down below)

$

Total assets

$

Liabilities and Owner's Equity

Liabilities

$

Owner's Equity $

Total liabilities and owner's equity $

Problem #2: ANSWERS (30 points)

Entry #	Account.3.1.mjm	Debit	Credit
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