Jose Hernandez, a private detective established his business on jan. 2, 2005.
jan 3, opened his business checking account with $15,000.
Jan. 5, purchased a computer system for $6,000, paid $1,000 down and signed a note for the balance to be repaid in 5 equal payments.
jan. 7, purchased office supplies for $1,000, used only 1/4 by the end of the month.
Jan. 10, Billed a client for $2,000 for his services
Jan. 12, received $2,500 cash for his services from another client
Jan. 17, had his office cleaned for $150
Jan. 20, recieved 1/2 of what he billed before (Jan. 10)
Jan. 25, purchased law books on credit for $650.
Jan. 28, witchdrew $2,500 for his personal use.
Required information:
Prepare T accounts
a Trail Balance
income statement’
and a balance sheet