Need accounting homework help!!!!!!!?

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driving me insane... hate accounting!!!

taking introductory accounting part 1, , teacher assigned homework "adjusting entries" , forth.

question:

during first week of jan 2008, chisata begain interior design business, exotic designs. kept no formal accounting records; however, did keep list of cash receipts , payments. @ end of 2008, approached bank loan, , asked submit financial statement prepared on accrual basis.

following info available on year ended dec 31,2008
cash receipts
investment owner $28,500
design service revenue 60,350
total = $88,850
cash payments
equipment $17,775
supplies 8,400
rent payments 9,800
insurance premium 1,980
advertising 3,400
salaries 19,850
telephone 1,020
drawings owner 24,000
total = $86,225
additional info
1. equipment had estimated 5 year useful life, purchased on jan 2 2008.
2. rent payments included 50 per month of rent , 800 deposit refundable of 2 yr lease
3. there 1040 of supplies on hand on december 31, 200

(a) calculate cash balance

mean calculate "cash balance"?!? , thing... supposed additional info? how should set everything... e.g shld have trial balance?!?

appreciated!!!!!!!!!


10 points best response.

this driving me insane... hate accounting!!! taking introductory accounting part 1, , teacher assigned homework "adjusting entries" , forth. question: during first week of jan 2008, chisata begain interior design business, exotic designs. kept no...


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