ACC 205 WEEK 1 ASSIGNMENT – Problems and Cases

May 1st, 2015
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California Southern University
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Here is the solution file for your accounting problems.You may buy it as your study guide and get good grades through researching more on this subject.

Word Count: 144
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Week 1Problems and CasesP1-42, Page 44TransactionsCashAssetsEquipmentAssetsAccountsReceivableSupplies=Liabilities(AccountsPayable )+C. RedmonCapital+RevenuesExpenses1+10,000=++ 10,0002500=-5003 2,000+2,000=4+3600=+36005+300=+3006+1700= +17007=8-200=-2009+800+800T810056001700 300=3900+10,000+2500700Redmon Consulting Income StatementFor the Month Ended December 31, 2007Revenue Revenue$2,500Expenses Rent Expenses $500 Utility Expenses $200 Total Expenses$700Net Profit$1,800Redmon Consulting Statement of Owners EquityFor the Month Ended December 31, 2007C. Redmond Capital, December 1, 2007$0 Plus: Investments by owner$10,000 Net Income$1,800 Less: Withdrawals by owner

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