Recod adjustments and prepare financial statements (lo 1,2,3,4).
adonnamariah19
p3-64a.xlsSheet1
| Problem 3-64A | Name | Kenneth | ||||||||
| Section | ||||||||||
| A | B | C | D | E | F | G | H | I | J | K |
| 5 | Date | A s s e t s = | Liabilities + | Shareholder's Equity | ||||||
| 6 | 2011 | Cash | A/R | Supplies | Equipment | Accum. Depr. | Land | Wages Pay. | ||
| 7 | a. | Amount | Amount | Title | ||||||
| 8 | b. | Amount | 8,000 | 15,000 | ||||||
| 9 | c. | Amount | 6,000 | Amount | Title | |||||
| 10 | d. | Amount | 890 | |||||||
| 11 | e. | Amount | Amount | Title | ||||||
| 12 | Adj. 1 | 2,480 | Amount | Title | ||||||
| 13 | Adj. 2 | (715) | Amount | Title | ||||||
| 14 | Adj. 3 | (1,000) | Amount | Title | ||||||
| 15 | Total | - 0 | 6,000 | 175 | 8,000 | (1,000) | 15,000 | 2,480 | - 0 | |
| 16 | Pops Company | |||||||||
| 17 | Income Statement | |||||||||
| 18 | For the Year Ended December 31, 2011 | |||||||||
| 19 | Revenue | Amount | ||||||||
| 20 | Expenses | |||||||||
| 21 | Operating expenses | Amount | ||||||||
| 22 | Salary expense | Amount | ||||||||
| 23 | Supplies expense | Amount | ||||||||
| 24 | Depreciation expense | Amount | - | |||||||
| 25 | Net Income | $ - 0 | ||||||||
| 26 | Pops Company | |||||||||
| 27 | Statement of Changes in Shareholder's Equity | |||||||||
| 28 | For the Year Ended December 31, 2011 | |||||||||
| 29 | Beginning contributed capital | $ - 0 | ||||||||
| 30 | Contributions during the year | Amount | ||||||||
| 31 | Ending contributed capital | Amount | ||||||||
| 32 | ||||||||||
| 33 | Beginning retained earnings | - | ||||||||
| 34 | Net income for the year | - | ||||||||
| 35 | Ending retained earnings | - | ||||||||
| 36 | Total shareholder's equity | $ - 0 | ||||||||
| 37 | ||||||||||
| 38 | Pops Company | |||||||||
| 39 | Balance Sheet | |||||||||
| 40 | December 31, 2011 | |||||||||
| 41 | Assets | Liabilities | ||||||||
| 42 | Current assets | Current liabilities | ||||||||
| 43 | Cash | Amount | Wages payable | Amount | ||||||
| 44 | A/R | Amount | Total current liabilities | - | ||||||
| 45 | Supplies | Amount | Shareholder's equity | |||||||
| 46 | Total current assets | - | Common stock | Amount | ||||||
| 47 | Equipment-net | Amount | Retained earnings | Amount | ||||||
| 48 | Land | Amount | Total shareholder's equity | - | ||||||
| 49 | Total assets | $ - 0 | Total | $ - | ||||||
| 50 | ||||||||||
| 51 | Pops Company | |||||||||
| 52 | Statement of Cash Flows | |||||||||
| 53 | For the Year Ended December 31, 2011 | |||||||||
| 54 | Cash from operating activities | |||||||||
| 55 | Cash collected from customers | Amount | ||||||||
| 56 | Cash paid to vendors | Amount | ||||||||
| 57 | Cash paid for expenses | Amount | ||||||||
| 58 | Total cash from operations | - | ||||||||
| 59 | Cash from investing activities | |||||||||
| 60 | Purchase of equipment | Amount | ||||||||
| 61 | Purchase of land | Amount | ||||||||
| 62 | Cash from financing activities | - | ||||||||
| 63 | Sale of common stock | Amount | - | |||||||
| 64 | Net increase in cash | - | ||||||||
| 65 | ||||||||||
| 66 | ||||||||||
| End of Problem |
&LReimers, Financial Accounting 3e
CyberCoach:
This amount is equal to the amount
in cell E49
.
