What are the changes to the balance sheet

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Reference no: EM132461017

1. The following invoices are being entered into the accounting system. Using the chart of accounts in Figure 2-1, determine the changes to the balance sheet, income statement, job cost ledger, and equipment ledger as the result of entering each of the following invoices:

Point a. A $5,000 invoice for concrete charged to job cost code 302.01.32300M

Point b. A $12,350 invoice from a subcontractor for plumbing charged to job cost code 309.02.22100S. Ten percent (10%) retention is withheld from the invoice.

Point c. A $255 phone bill charged to job cost code 315.01.001800O.

Point d. A $1,352 bill for main office rent.

Point e. A $112 invoice for office supplies for the main office.

Point f. A $375 invoice for repairs to Backhoe 2.

Point g. $563 invoice for nails. The nails will be placed in inventory until they are needed on the jobs, at which time they will be billed to the jobs.

Question 1: What are the changes to the balance sheet, income statement, job cost ledger, and equipment ledger as a result of all these invoices?

Reference no: EM132461017

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