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    bebeabc's Avatar
    bebeabc Posts: 1, Reputation: 1
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    #1

    Jun 7, 2011, 05:00 PM
    Assets
    Susan starts a new word processing business with $5,000. She pays $450 in rent for the first month, pays $300 cash for office supplies, and $50 for phone usage. She also purchases $800 worth of resume paper. The business in the first month was a success, and she sold $1,800 worth of her word processing services, using $200 worth of resume paper. Given the above (and using the accounting equation Assets = Liabilities + Owners' Equity), determine the following:

    •What was Susan's initial capital?
    •What was her Net Income for the month?
    •How much were her expenses?
    •What are her total assets?
    •What was Susan's revenue for the month?
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    Just Looking Posts: 1,610, Reputation: 480
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    #2

    Jun 7, 2011, 05:38 PM

    Please see this announcement.

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    We always ask that students attempt their homework. That is how you will learn and understand it. If you will post your work and answers, we will check it for you. That also shows us where you are having trouble. Thanks.
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