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    Rahad Hasan Chyon
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    The document shows accounting transactions for Rahad's Tech Ltd. over 10 periods in May. It includes a T-account, income statement, owner's equity statement, and balance sheet. The T-account tracks increases and decreases to cash, accounts receivable, supplies, equipment, accounts payable, capital, and drawings. The income statement shows revenues of $5850 and expenses of $2790 for a net income of $3060. The owner's equity statement tracks an initial $10000 capital investment and $3060 net income against $1000 in drawings. The balance sheet as of May 31 lists assets of $12310 and liabilities/equity of $12310, including $250 in accounts payable and $120

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    The document shows accounting transactions for Rahad's Tech Ltd. over 10 periods in May. It includes a T-account, income statement, owner's equity statement, and balance sheet. The T-account tracks increases and decreases to cash, accounts receivable, supplies, equipment, accounts payable, capital, and drawings. The income statement shows revenues of $5850 and expenses of $2790 for a net income of $3060. The owner's equity statement tracks an initial $10000 capital investment and $3060 net income against $1000 in drawings. The balance sheet as of May 31 lists assets of $12310 and liabilities/equity of $12310, including $250 in accounts payable and $120

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    © All Rights Reserved
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    5 views2 pages

    Trans

    Uploaded by

    Rahad Hasan Chyon
    The document shows accounting transactions for Rahad's Tech Ltd. over 10 periods in May. It includes a T-account, income statement, owner's equity statement, and balance sheet. The T-account tracks increases and decreases to cash, accounts receivable, supplies, equipment, accounts payable, capital, and drawings. The income statement shows revenues of $5850 and expenses of $2790 for a net income of $3060. The owner's equity statement tracks an initial $10000 capital investment and $3060 net income against $1000 in drawings. The balance sheet as of May 31 lists assets of $12310 and liabilities/equity of $12310, including $250 in accounts payable and $120

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 2

    Trans.

    Cash + + + = + + + -
    Accounts Supplies Equipment Accounts Rahad’s Rahad’s Revenues Expenses
    Receivable Payable Capital Drawing
    s
    1 $10,000 $ 10000

    2 -$ 5,000 $ 5,000

    3 -$ 400 -$ 400

    4 -$ 500 -$ 500

    5 $ 250 -$ 250

    6 $ 5100 $ 5100

    7 -$ 1000 -$ 1000

    8 -$ 2000 -$ 2000

    9 -$ 140 -$ 140

    10 $ 750 $ 750

    Ending $ 6180 $ 630 $ 500 $ 5000 $ 250 $ 10000 -$ 1000 $ 5850 -$ 2790
    Balance

    Rahad’s Tech Ltd.


    Income Statement
    For the month Ended May 31
    Revenues
    Total Service Revenue $ 5850
    Expenses
    Total Expenses - $ 2790

    Net Income $ 3060


    Rahad’s Tech Ltd.
    Owner’s Equity Statement
    For the month Ended May 31
    Ownwer’s Capital ,May 1
    Add: Investment $10000
    Net Income $ 3060
    $13060
    Less: Drawing $1000

    Owner’s Capital,May 31 $12060

    Rahad’s Tech Ltd.


    Balance Sheet
    May 31,2023

    Assets

    Cash $6180
    Account Receivable 630
    Supplies 500
    Equipment 5000

    Total Assets $12310

    Owner’s Equity And Liabilities


    Liabilities
    Accounts Payble $250
    Owner’s Equity
    Owner’s Capital 12060

    Total Liabilities And Owner’s Equity $12310

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