Basic Accounting

PROBLEM 11-15

SOLUTION

(Transactions Worksheet)

(000’s omitted) =

Pledges Acc. Rec. PPE Accounts Wages Cash Receivable Net Inventory Deposits net Payable Payable

Beginning Balance 10 350 26 25 0 350 27 32

Transaction #1 300 (300)

Transaction #2

Transaction #3 (50)

Transaction #4 (5) 5

Transaction #5 80

Transaction #6 (30) 60 30 Transaction #7 (10) (5) 15

Transaction #8 75

Transaction #9 (28)

Transaction #10 (75) 15

Transaction #11 98 12

Transaction #11 (con't)

(58)

Transaction #11 (con't)

(30) (30)

Transaction #12 (2)

Transaction #13 (40)

Ending Balance $335 $50 $36 $27 $0 $325 $27 $47

Assets Liabilities and Net Assets

Tempo- Perma- Notes rarily nently

Payable Unrestricted Restricted Restricted

270 302 30 100

(50) Grant Expense

80 Donation Revenue

75

(25) (3) Interest Expense

(90) Wage Expense

110 Sales Revenue

(58) COGS

(2) Bad Debt Expense

(40) Depreciation Expense

$320 $249 $30 $100

Liabilities and Net Assets Net Assets