Respuesta :
a) The effects of the transactions using the accounting equation format are as follows:
Date Assets = Liabilities + Equity
June 1 Cash $10,000 Common Stock $10,000
June 2 Delivery Van $14,000 Notes Payable $12,000
Cash - $2,000
June 3 Cash - $2,000 Rent Expense -$2,000
June 5 Accounts Receivable $4,800 Service Revenue $4,800
June 6 Cash -$300 Dividends -$300
June 12 Supplies $150 Accounts Payable $150
June 15 Cash $1,250
Accounts Receivable -$1,250
June 17 Accounts Payable $100 Gasoline -$100
June 20 Cash $1,500
Accounts Receivable -$1,500
June 23 Cash -$500 Notes Payable -$500
June 26 Cash -$250 Utilities Expense -$250
June 29 Cash -$100 Accounts Payable -$100
June 30 Cash -$1,000 Salaries Expense -$1,000
What is the format of the accounting equation?
The accounting equation format or model is Assets = Liabilities + Equity.
b) Tercek Deliveries
Income Statement for the month of June 30
Service Revenue $4,800
Rent Expense 2,000
Gasoline Expense 100
Utilities Expense 250
Salaries Expense 1,000 $3,350
Net income $1,450
c) Tercek Deliveries
Balance Sheet for the month of June 30
Assets:
Cash $6,600
Accounts Receivable 2,050
Supplies 150
Delivery Van 14,000 $22,800
Liabilities:
Notes Payable $11,500
Accounts payable 150 $11,650
Equity:
Common Stock 10,000
Retained earnings ($1,450 - $300) 1,150
Total equity $11,150
Total liabilities + equity $22,800
Data and Calculations:
Summary of balances or Trial Balance:
Account Titles Debit Credit
Cash $6,600
Accounts Receivable 2,050
Supplies 150
Delivery Van 14,000
Notes Payable $11,500
Accounts payable 150
Common Stock 10,000
Service Revenue 4,800
Rent Expense 2,000
Dividends 300
Gasoline Expense 100
Utilities Expense 250
Salaries Expense 1,000
Totals $26,450 $26,450
Question Completion with Transaction Analysis:
June 1 Cash $10,000 Common stock $10,000
June 2 Delivery Van $14,000 Cash $2,000 Note payable$12,000
June 3 Rent Expense $500 Cash $500
June 5 Accounts Receivable $4,800 Service Revenue $4,800
June 6 Dividends $300 Cash $300
June 12 Supplies $150 Accounts Payable $150
June 15 Cash $1,250 Accounts Receivable $1,250
June 17 Gasoline $100 Accounts Payable $100
June 20 Cash $1,500 Accounts Receivable $1,500
June 23 Notes Payable $500 Cash $500
June 26 Utilities Expense $250 Cash $250
June 29 Accounts Payable $100 Cash $100
June 30 Salaries Expense $1,000 Cash $1,000
Instructions:
a. Show the effects of the previous transactions on the accounting equation using the table format. Include margin explanations for any changes in stockholders' equity in your analysis.
b. Prepare an income statement for the month of June,
c. Prepare a balance sheet at June 30, 2022.
Learn more about the accounting equation at https://brainly.com/question/20218661
