R VERSON BACK The are as Worksheet partial For the Month En

| \"R VERS?ON .BACK The are as Worksheet (partial) For the Month Ended April 30, 2017 Dr. 10,000 7,840 2,280 23,050 Prepaid Rent 4,921 5,700 4,920 20,000 7,960 Common Stock 3,650 Service Revenue 15,590 10,840 Interest Expense Interest Payable 59,148 (at)

Solution

Ans. DESOUSA COMPANY Balance Sheet For the Month Ended April 30, 2017 Assets Current Asset: Amt.($) Amt.($)     Cash             10,000     Accounts receivable               7,840     Prepaid Rent               2,280 Total Current Asset             20,120 Property, Plant and Equipment:     Equipment             23,050 Less: Accumulated Depreciation             (4,921)             18,129 Total Assets             38,249 Liabilities and Stockholder\'s Equity Current Liability:     Notes Payable               5,700     Accounts Payable               4,920     Interest Payable                     57 Total Current Liability             10,677 Stockholder\'s Equity:     Common Stock             20,000     Retained Earning ($7,960-$388)               7,572 Total Stockholder\'s Equity             27,572 Total Liabilities and Stockholder\'s Equity             38,249 Notes: Income Statement Particulars Amt.($) Service Revenue            15,590 Less: Salaries and wages Expenses            10,840 Rent expense                  760 Depreciation expense                  671 Interest expense                    57 Dividends              3,650 Net Income (Loss)               (388)