| Cash | A/R | Supplies | Equip. | A/P | Jane Doe, Capital | |
| 1. Jane invests $25,000 in the business. | ||||||
| NEW BALANCE | ||||||
| 2. Jane buys new equipment for $8,000 | ||||||
| NEW BALANCE | ||||||
| 3. Jane receives $5,000 of supplies she ordered. | ||||||
| NEW BALANCE | ||||||
| 4. Jane pays $1,200 of rent for the month | ||||||
| NEW BALANCE | ||||||
| 5. Jane pays $5000 on the supplies bill. | ||||||
| NEW BALANCE | ||||||
| 6. Jane does $6,000 of work for a client and sends them a bill. |
|
|||||
| NEW BALANCE | ||||||
| 7. Jane pays her lawyer $400 for contracts drawn up for the company. | ||||||
| NEW BALANCE | ||||||
| 8. Jane pays $300 to her cousin for helping her do office work. |
|
|||||
| NEW BALANCE | ||||||
| 9. Jane withdraws $1,000 from the business. | ||||||
| NEW BALANCE | ||||||
| 10. Jane's client from #6 above pays $5000 on their bill. | ||||||
| NEW BALANCE |
What would the balance in Jane Doe, Capital be on the balance sheet after the transactions above are complete?
Which items in the last column are revenues and expenses?
What would Net Income be for the month?
Click to view the results.