Please e-mail me if you can help me at lovelykayla18@aol.com with these

2.9
Preparing an income statement
At the beginning of September, Alexander Parker started Parker Investment Services, a firm that offers advice about investing and managing money. On September30, the accounting records of the business showed the following information. Prepare an income statement for the month of September 2010.

Cash $32,100
Accounts Receivable 3,000
Office Supplies 2,400
Office Equipment 36,500
Accounts Payable 4,700
Alexander Parker, Capital,
September 1, 2010 - 27,700
Fees Income $72,800
Advertising Expense 5,500
Salaries Expense 15,000
Telephone Expense 700
Withdrawls 8,000

3.4
Using T accounts to record all business transactions
The following accounts and transactions are for John Wilson, Landscape Consultant

INSTRUCTIONS
Alalyze the transactions. Record each in the approiate T accounts. Use plus and minus signs in front of the amounts to show the increases and decreases. Identify each entry in the T accounts by writing the letter of the tranctions next to the entry.

ASSETS
Cash
Accounts Receivable
Office Furniture
Office Equipment
LIABILITIES
Accounts payable
OWNER'S EQUITY
John Wilson, Capital
=0
AJohn Wilson, Drawing
REVENUE
Fees Income
EXPENSES
Rent Expense
Utilities Expense
Salaries Expense
Telephone Expense
Miscellaneous Expense

TRANSACTIONS
a. Wilson invested $150,000 in cash to start the buisness
b.Paid $5,000 for the current months rent
c. Bought office furniture fir $15,720 in cash
d. Performed services for $7,200 in cash
e. Paid $1,150 for the monthly telephone bill
f. Performed services for $13,000 on credit
g. Purchased a computer and copier for $36,000, paid $12,000 in cash immediately; the balance is due in 30 days
h. Recieved $6,500 from credit clients
i. Paid $3,000 in cash for office cleaning services for the month
j. Purchased additonal office chairs for $4,800; recieved credit terms of 30 days
k. Purchased office equipment for $30,000 and paid half of this amount in cash immediately; the balance is due in 30 days
l. Issued a check for $8,400 to pay salaries
m. Performaed services for $13,500 in cash
n. Performed services for $15,000 in credit
o. Collected $7,000 on accounts recievable from charge customers
p. Issued a check for $2,400 in partial payment of the amount owed for office chairs
q. Paid $600 to duplicating company for photocopy work during the month
r. Paid $1,120 for monthly elecrtic bill
s. Wilson withdrew $8,000 in cash for personal expenses

Analyze What liabilities does the business have after all transactions have been recrded?


4.2
Analyze Transactions
Selected accounts from the general ledger of the Express Courier Service follow. Analyze the following transactions and indicate by number what accounts should be debited and credited for each transaction.
101 Cash
111 Accounts Receivable
121 Supplies
131 Equipment
202 Accounts Payable
301 Sam Taylor, Capital
401 Fees Income
511 Rent Expenses
514 Salaries Expense
517 Utilities Expense

TRANSACTIONS
1. Gave a cash refund of $720 to a customer because of a lost package. (The customer had previously paid in cash)
2. Sent a check for $1,200 to the utility company to pay the monthly bill.
3. Provided services for $13,000 on credit.
4. Puchased new equipment for $8,400 and paid for it immediately by check.
5. Issued a check for $6,000 to pay a creditor on account.
6. Performed services for $9,300 in cash.
7. Collected $11,200 from credit customers.
8. The owner made an additional investment oF $40,000 in cash.
9. Purchased supplies for $4,000 on credit.
10. Issued a check for $3,700 to pay the monthly rent.

4.4
Compound Journal Entries
The following transactions took place at the Cortez's Leading Ladies during November 2010. Record the general journal entries that would be made from these transactions. Use a compound entry for each transaction.
Date:
Nov. 5 Performed services for Talent Search, Inc., for $16,000; received $8,000 in cash and the client promised to pay the balance in 60 days.
Nov. 18 Purchased a graphi
ng calculator for $150 and some supplies for $250 from Office Supply; issued Check 1008 for the total.
Nov. 23 Received Invoicee 1602 for $540 from Automotive Technicians Repair for repairs to the firm's automobile; issued Check 1009 for half the amount and arranged to pay the other half in 30 days.