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Accounting_ExercisesnoIII.xlsx
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EXERCISE III

Balance Sheet on Nov. 30, 2018
Assets Equities
Equipment 5,000 Paid-in Capital 4,000
Office Supplies Inventory 1,000 Retained Earnings 3,600
Accounts Receivable 1,000 Tax payable 1,000
Cash, Bank 6,600 Accounts payable 5,000
Total assets 13,600 Total equities 13,600
ASSETS ACCOUNTS
CASH, BANK OFFICE SUPPLY INVENTORY ACCOUNT RECEIVABLES EQUIPMENT
Dt Ct Dt Ct Dt Ct Dt Ct
OP. BAL. OP. BAL. OP. BAL. OP. BAL.
EQUITY AND LIABILITIES ACCOUNTS
PAID IN CAPITAL RETAINED EARNINGS TAX PAYABLES ACCOUNTS PAYABLES LOAN PAYABLE
Dt CT Dt Ct Dt Ct Dt Ct Dt Ct
OP. BAL. OP. BAL. OP. BAL. OP. BAL. OP. BAL.
TEMPORARY ACCOUNTS
Dt Ct Dt Ct
transactions
1. Cash-Purchase of €1,000 of Office Supplies Inventory
2. At the end of the month Company took out a 9 % p.a., 90 day, €10,000 loan with the Bank
3. Performed consulting services, for which we received € 2,000 cash immediately
4. Received an invoice for a series of advertisements, € 1 000, that appeared in the local news during December and will be paid in January.
5. Performed additional consulting work, € 1 800 on credit
6. Performed advertisement services, for which we received € 1,000 cash immediately.
7. Paid salaries to employees of € 2,000 for December
8. Paid outstanding tax € in the amount 800
9. Paid creditors € 1,300.
10. The cost of office supplies used during December is € 850
11. Depreciation of equipment for December amounts to € 250
EXPENSES REVENUES
TOTAL
Balance Sheet on Nov. 30, 2018
Assets Equities
Equipment Paid-in Capital
Office Supplies Inventory Retained Earnings
Accounts Receivables Loan Payable
Cash, Bank Tax Payables
Accounts payable
Total assets Total equities