FallSession - U1IP_PrinciplesOFAccounting

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Choice 2-Exhibit

AC-101
Unit 1 Individual Project
Choice 2
Exhibit
Assets = Liabilities Owner's Equity
Date +/- Cash- Checking Account +/- Accounts Receivable +/- Computer Supplies +/- Accounts Payable +/- Mary Powers, Capital + Mary Powers, Drawing +/- Fees Earned - Salaries Expense +/- Rent Expense - Auto. Expense +/- Supplies Expense +/- Misc. Expense
10/1 + 50,000 = + 50,000
10/2 + 9,000 + 20,000 = + 29,000
10/3 - 7,550 = - 7,550
10/5 - 900 = - 900
10/10 - 2,100 + 2,100 =
10/11 + 10,000 = + 10,000
10/15 - 750 + 5,000 = + 4,250
10/16 - 500 = - 350 - 150
10/20 - 1,000 = - 1,000
10/25 + 2,000 - 2,000 =
10/31 - 5,000 = - 5,000
10/31 - 3,000 = - 3,000
Balance 45,200 28,000 2,100 3,250 50,000 3,000 39,000 7,550 900 350 5,000 150

Choice 2-Templates

Student Name: ___________________________
Date: _______________
AC-101
Unit 1 Individual Project
Choice 2
MAP Computer Consulting Services
Income Statement
For the Month Ended October 31, 2010
Revenues:
Fees earned
Expenses:
Salaries expense
Rent expense
Auto expense
Computer Supplies expense
Miscellaneous expense
Total expenses
Net income
MAP Computer Consulting Services
Statement of Owner's Equity
For the Month Ended October 31, 2010
Mary Ann Powers, capital, October 1, 2010
Investment on October 1, 2010
Net income for October
Total
Less: withdrawals
Increase in owner's equity
Mary Ann Powers, capital, October 31, 2010
MAP Computer Consulting Services
Balance Sheet
October 31, 2010
Assets Liabilities
Cash Accounts payable
Accounts receivable
Computer Supplies Owner's Equity
Mary Ann Powers, capital
Total assets Total liabilities and owner's equity