PATEL SERVICE CO.
Horizontal Statements Model
Balance Sheet Income Statement
Assets = Liabilities + Stockholders' Equity Revenue – Expense = Net Income Statement of Cash Flows
Event Cash + Accounts Receivable = +
1. + 0 = 0 + – 0 = 20,380 OA
2. + 4,500 = 0 + – 0 =
3. + 0 = 0 + 0 – = OA
4. + (120) = 0 + 0 – = 0
0 + 4,380 = 0 + 0 0 – 0 = 20,380 0