Reference no: EM132633032
Question - Make a balance sheet and income statement
Emma Walter opened a dormitory locator business called Room Finders near a college campus. During the first month of operations, September 2018, Emma had the following transactions.
1) Invested $14,300 of personal funds to start the business.
2) Incurred travel expenses for $1,320, which will be paid later.
3) Paid $790 cash for maintenance expenses.
4) Received $5,100 cash for services provided to clients.
5) Paid $1,320 for the on account purchase in transaction 2.
6) Paid three months of office rent in advance, in the amount of $1,500.
7) Incurred $310 of utilities expenses, which will be paid next month.
8) Received $1,030 cash from a customer for services to be provided in two months.
9) Provided $1,260 in services for a customer who will pay later.
10) Recognized one month of office rent that was prepaid.
11) Emma withdrew $910 cash for personal use.
12) Purchased a second-hand car worth $6,850 for business use with cash.
13) Received $940 from a customer owing for the service provided earlier this month.