Accounting unit 1
cl152293
u01a1Template.docx
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Assets |
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Liabilities |
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Equity |
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Date |
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Cash |
+ |
Accounts Receivable |
+ |
Office Supplies |
+ |
Office Equipment |
+ |
Electrical Equipment |
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Accounts Payable |
+ |
Common Stock |
- |
Dividends |
+ |
Revenues |
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Expenses |
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Dec. |
1 |
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2 |
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Bal. |
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3 |
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Bal. |
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5 |
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Bal. |
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6 |
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Bal. |
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8 |
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Bal. |
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15 |
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Bal. |
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18 |
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Bal. |
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20 |
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Bal. |
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24 |
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Bal. |
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28 |
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Bal. |
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29 |
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Bal. |
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30 |
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Bal. |
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31 |
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Bal. |
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Problem 1-9A (Continued)
Part 2
Rivera Roofing Company
Income Statement
For Month Ended December 31
Revenues
Electrical fees earned
Expenses
Rent expense
Salaries expense
Utilities expense
Total expenses
Net income
Rivera Roofing Company
Statement of Retained Earnings
For Month Ended December 31
Retained earnings, December 1
Add: Net income
Less: Dividends
Retained earnings, December 31
Rivera Roofing Company
Balance Sheet
December 31
Assets Liabilities
Cash Accounts payable
Accounts receivable Equity
Office supplies Common stock
Office equipment Retained earnings
Electrical equipment Total equity
Total assets Total liabilities and equity
Problem 1-9A (Concluded)
Part 3
Rivera Roofing Company
Statement of Cash Flows
For Month Ended December 31
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Cash flows from operating activities |
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Cash received from customers |
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Cash paid for rent |
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Cash paid for supplies |
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Cash paid for utilities |
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Cash paid to employees |
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Net cash provided by operating activities |
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Cash flows from investing activities |
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Cash paid for office equipment |
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Cash paid for electrical equipment |
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Net cash used by investing activities |
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Cash flows from financing activities |
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Cash investment from shareholder |
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Cash dividend to shareholder |
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Net cash provided by financing activities |
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Net increase in cash |
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Cash balance, Dec. 1 |
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Cash balance, Dec. 31 |
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Part 4
If the December 1 investment had been $49,000 cash instead of $65,000, and the $16,000 difference was borrowed by the company from a bank, then:
(a)
(b)
(c)
u
01a1
Problem 1
-
9B
Part 1
Assets
=
Liabilities
+
Equity
Date
Cash
+
Accounts
Receivable
+
Office
Supplies
+
Office
Equipment
+
Electrical
Equipment
=
Accounts
Payable
+
Common
Stock
-
Dividends
+
Revenues
-
Expenses
Dec.
1
=
2
Bal.
=
3
Bal.
=
5
Bal.
=
6
Bal.
=
8
Bal.
=
15
Bal.
=
18
Bal.
=
20
Bal.
=
24
Bal.
=
28
Bal.
=
29
Bal.
=
30
Bal.
=
31
Bal.
=
u01a1 Problem 1-9B Part 1
Assets = Liabilities + Equity
Date Cash +
Accounts
Receivable
+
Office
Supplies
+
Office
Equipment
+
Electrical
Equipment
=
Accounts
Payable
+
Common
Stock
-
Dividends + Revenues
-
Expenses
Dec. 1 =
2
Bal.
=
3
Bal.
=
5
Bal.
=
6
Bal.
=
8
Bal.
=
15
Bal.
=
18
Bal.
=
20
Bal.
=
24
Bal.
=
28
Bal.
=
29
Bal.
=
30
Bal.
=
31
Bal.
=
