80 Exercise 2-12 Analyzing and journalizing expense transactions A1 P1 Exercise 2-13 Preparing an income statement C3 P3 , вы Check Net income, $10,470 Exercise 2-14 Preparing a statement of owner's equity P3 Check End. Capital, $106,470 Hu Exercise 2-15 Preparing a balance sheet P3 Exercise 2-16 Computing net income A1 Exercise 2-17 Analyzing changes in a company's equity P3 Chapter 2 Analyzing and Recording Transactions Examine the following transactions and identify those that create expenses for Valdez Services. Prep general journal entries to record those expense transactions and explain why the other transactions did r create expenses. a. The company paid $12,200 cash for payment on a 16-month old liability for office supplies. b. The company paid $1,233 cash for the just completed two-week salary of the receptionist. c. The company paid $39,200 cash for equipment purchased. d. The company paid $870 cash for this month's utilities. e. Owner (Valdez) withdrew $4,500 cash from the company for personal use. Carmen Camry operates a consulting firm called Help Today. On August 31, the company's records sh the following accounts and amounts for the month of August. Use this information to prepare an Augi income statement for the business. Cash Accounts receivable Office supplies Land Office equipment Accounts payable C. Camry, Capital, July 31. $25,360 22,360 5,250 44,000 20,000 10,500 2,000 C. Camry, Withdrawals. Consulting fees earned Use the information in Exercise 2-13 to prepare an August statement of owner's equity for Help Toda (The owner invested $100,000 cash in the company during the first week of August.) Beginning of the year End of the year Rent expense Salaries expense. Telephone expense Miscellaneous expenses. Owner investment made on August 4 Use the information in Exercise 2-13 (if completed, you can also use your solution to Exercise 2-14) prepare an August 31 balance sheet for Help Today. A sole proprietorship had the following assets and liabilities at the beginning and end of this year. 1 2 Equity, December 31, 2012 3 Owner investments during the year 4 Owner withdrawals during the year File Edit View Insert Format Tools Data Window Help DEDY 0300- 5 Net income (loss) for the year 6 Equity, December 31, 2013 7 MIKHYTHSheets Shopt2/18/ARM Assets $ 60,000 105,000 Determine the net income earned or net loss incurred by the business during the year for each of the follo ing separate cases: a. Owner made no investments in the business and no withdrawals were made during the year. b. Owner made no investments in the business but withdrew $1,250 cash per month for personal use. c. Owner made no withdrawals during the year but did invest an additional $55,000 cash. d. Owner withdrew $1,250 cash per month for personal use and invested an additional $35,000 cash. Compute the missing amount for each of the following separate companies a through d. B (a) $ Liabilities 0 $ 110,000 ? 22,000 104,000 $20,000 36,000 $ 6,000 27,000 9,550 5,600 860 520 100,000 C -BU D 2.A. 0 $ 0 $ 0 ? 87,000 210,000 (47,000) (10,000) (55,000) 90,000 (4,000) ? ? 110,000 85,000 00

Name: 80Exercise 2-12Analyzing and journalizingexpense transactionsA1 P1Exe
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Description: 80Exercise 2-12Analyzing and journalizingexpense transactionsA1 P1Exercise 2-13Preparing an incomestatementC3 P3owCheck Net income, $10,470Exercise 2-14Preparing a statementof owner's equity P3Check End. Capital, $106,470DExercise 2-15Preparing a ba