Assets=

cash Accounts Rec Equipments

1 11000
2 -800
3 3000
4 1500
5 700
6 2000
7 -900
8 -1000

total assets $ 15,500

Liabilities + Owners Equity
Notes Payable Accounts Payable Owners Capital Owners Drawings
11000

3000

700

-1000

Total Liabilities+Equity $ 15,500

Revenue Expenses

-800 rent expense

1500

2000
-900
 Sea Legs Cruise Company
Income Statement
for the year ended 2020

Revenues
Service/Ticket revenue $ 410,000
Expenses
Salaries and wages exp $ 142,000
Maintenance and repairs exp 95,000
Advertising expense 24,500
Utilities expense 13,000
Total Expense 274,500
Net Income $ 135,500
 31-Dec Assets Liabilities OE
2019 $ 400,000 $ 250,000 $ 150,000
2020 $ 460,000 $ 300,000 $ 160,000
2021 $ 590,000 $ 400,000 $ 190,000

Buisness started on Jan 1 2019 with an investment of $ 100,000

2019
a- Owners Capital at Jan 1 100,000
Add: Net Income or loss ??? 62000
Add: Investment 0
less : Drawings -12000
Owners Capital at Dec 31 150,000

2019 100,000+x+0-12000=150,000
X= $62,000 Net Income

2020 150,000+x+34000-0=160,000
x= (24,000) Net loss

2021 160,000+x+12000-25000=190000
X= $43000 Net Income
 2020 2021
150,000 160,000
?? -24,000 ??? 43000
34,000 12000
0 -25,000
160,000 190,000
 Assets
Cash Acc Rec Supplies Equipment
1-May 7000
2 -900
3 800
5 -125
9 4000
12 -1000
15 6400
17 -2500
20 -600
23 4000 -4000
26 5000
29 4200
30 -275

TA= $ 22,000 TL+OE= $ 22,000

14600 2400

B-
Maisie Taft
Income statement
for the month ended May 1, 2020

Revenues
Service Revenue 10,400
Expenses
Rent EXP 900
Advertising Exp 125
Salaries Exp 2500
Utilities exp 275
Total Exp 3800
Net Income $ 6,600

c Maisie Taft
Balance sheet
at May 31, 2020

Assets
Cash $ 14,600
Accounts Receivable 2400
Supplies 800
Equipment 4200
Total Assets $ 22,000

Liabilities
Notes Payable 5000
Accounts Payable 4400
Total Liabilities 9400

Stockholders equity
Owners Equity 7000
Retained Earning 5600
Total Stockholders eqyuity 12600
Total Liabilitites & Stock holders equity $ 22,000
 Liabilities Owners Equity
Notes Pay Accounts Payable Owners Cap Owners Drawings Revenue Expenses
7000
-900
800
-125
4000
-1000
6400
-2500
-600

5000
4200
-275

h ended May 1, 2020