business began operatons on March 1, 2018 The Cick the icon to view the account

Question

business began operatons on March 1, 2018 The Cick the icon to view the account belances Begin by prepering the income statement for DJ Painting for the month of March 2018 (1 a box is not used in the lable lesve the box empty, do nol sokoct a labalo enter a zero.) Deta Table Accounts Receivable Accounts Psyabla Cash Oaner coni bubn during March Owner wethdrawal during March Richardson Capttal March1, 2018 S 1,300 8,500 1800 22-480 1300Saariss Expense 800Senice Revanse 23,800 Otice Supples 45000 Truck 3 500Usites Egense Net income Print Done Choosfrom any tist or ente, any number In the inout fees and then clex Check Answer Check Answer

Explanation / Answer

Income Statement Service revenue 8,500 less:Expenses Salaries expense 1,300 office supplies 1,600 utilities expense 320 total expense 3,220 Net income 5,280 Statement of owner's Equity Richardson capital, march 1,2018 0 Add: owner contribution during March 45,000 Net income during the year 5,280 50280 less:owner withdrawal during March 3,500 Richardson capital,March 31,2018 46,780 Balance sheet Assets Cash 23,800 Accounts receivable 1,300 Truck 22,480 total assets 47,580 liabilities & stockholder's Equity liabilities. Accounts payable 800 owner's Equity Richardson Capital,march 31,2018 46,780 total liabilities & owner's Equity 47580

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