Soembody Plz Help me , I am struggling.?

43. Use the following information to calculate at, or for the year
ended, December 31, 2003 (a) net income, (b) ending retained
earnings, and (c) total assets.

Supplies $ 500 Revenues $20,000
Wages expense 10,000 Cash 16,000
Accounts payable 11,000 Dividends 8,000
Accounts receivable 4,000 Notes payable 2,000
Common stock 10,000 Equipment 8,500
Retained earnings (beg.) 4,000

For part (a), show what accounts and amounts you are using to determine net income, for (b), what accounts and amounts to determine ending retained earnings, and (c) what accounts and amounts to determine total assets.







44. Journalize the following business transactions in general journal
form. Identify each transaction by number.
1. Stockholders invest $20,000 in cash in starting a real estate
office operating as a corporation.
2. Purchased $400 of office supplies on credit.
3. Purchased office equipment for $7,500, paying $2,500 in cash
and signed a 30-day, $5,000, note payable.
4. Real estate commissions billed to clients amount to $5,000.
5. Paid $700 in cash for the current month's rent.
6. Paid $200 cash on account for office supplies purchased in
transaction 2.
7. Received a bill for $500 for advertising for the current month.
8. Paid $2,200 cash for office salaries.
9. Paid $1,200 cash dividends to stockholders.
10. Received a check for $4,000 from a client in payment on account
for commissions billed in transaction 4.

A Dr Cr

Cash 16000
Accounts Receivable 4000
Equipment 8500

28500 Total Assets

Accounts Payable 11000
Notes Payable 2000

Common Stock 10000
Dividends 8000
Retained Earnings 4000
Earnings 9500
28500 Total Liabilities



Revenues 20000

Wages 10000
Supplies 500


Net Income 9500



Here is the first part

Time to do your own homework.

First you need to determine balance sheet items (assets, liabilities, equity) and income statement items (income, expense).

Supplies $ 500
Cash 16,000
Accounts receivable 4,000
Equipment 8,500
Common stock 10,000
Notes payable 2,000
Accounts payable 11,000
Retained earnings (beg.) 4,000

Revenues $20,000
Wages expense 10,000
Dividends 8,000

For the second part of the help, it looks like they mostly buying things or paying for things. The question you need to ask for each of these - is it cash or credit. Then are they buying something that's an asset or investment? Or is it an expense?
If they paid cash, that's a given that it's going to decrease cash. It's the other side of the trans you get to figure out. So credit to cash and debit to what?

The same when they receive cash. What are they receiving the cash for?

The purpose of homework is to teach you. If someone else does it for you, you will not learn