Statement
knohe_
copy_of_week05_student_template.xlsxBalance Sheet
| Big Ed's Motorcycle Shop | ||
| Balance Sheet | ||
| December 31, 2015 | ||
| Assets | ||
| Current Assets: | ||
| Cash | ||
| Accounts Receivable | ||
| Merchandise Inventory, Parts | ||
| Merchandise Inventory, Motorcycles | ||
| Office Supplies | ||
| Prepaid Insurance | ||
| Total Current Assets | ||
| Property, Plant, & Equipment: | ||
| Office Equipment | ||
| Accumulated Depreciation-Office Equipment | ||
| Store Equipment | ||
| Accumulated Depreciation-Store Equipment | ||
| Shop Equipment | ||
| Accumulated Depreciation-Shop Equipment | ||
| Total PP & E | ||
| Total Assets | ||
| Liabilities and Owner's Equity | ||
| Current Liabilities: | ||
| Accounts Payable | ||
| Salaries Payable | ||
| Interest Payable | ||
| Total Current Liabilities | ||
| Long-Term Liabilities | ||
| Notes Payable | ||
| Total Liabilities | ||
| Owner's Equity | ||
| Ed Silver, Capital | ||
| Total Liabilities and Owner's Equity | ||
Income Statement
| Big Ed's Motorcycle Shop | ||
| Income Statement | ||
| For the Period Ended December 31, 2015 | ||
| Sales | ||
| Cost of Merchandise Sold | ||
| Gross Profit | ||
| Selling Expenses: | ||
| Sales Salaries Expense | ||
| Service Salaries Expense | ||
| Advertising Expense | ||
| Depreciation Expense-Store Equipment | ||
| Depreciation Expense-Shop Equipment | ||
| Miscellaneous Selling Expense | ||
| Administratvie Expenses: | ||
| Office Salaries Expense | ||
| Depreciation Expense-Office Equipment | ||
| Rent Expense | ||
| Insurance Expense | ||
| Office Supplies Expense | ||
| Miscellaneous Administrative Expense | ||
| Income from Operations | ||
| Other Expense: | ||
| Interest Expense | ||
| Net Income | ||
Statement of Cash Flows
| Big Ed's Motorcycle Shop |
| Statement of Cash Flows |
| For the Period Ended December 31, 2015 |
| Cash Flows from Operating Activities |
| Net Income |
| Depreciation |
| Decrease in Accounts Receivable |
| Decrease in Merchandise Inventory, Parts |
| Increase in Merchandise Inventory, Motorcycles |
| Increase in Office Supplies |
| Increase in Prepaid Insurance |
| Increase in Accounts Payable |
| Increase in Interest Payable |
| Increase in Salaries Payable |
| Total adjustments |
| Net Cash Flows Provided from Operating Activities |
| Cash Flows from Investing Activities |
| Shop Equipment Purchased |
| Net Cash Flows Used by Investing Activities |
| Cash Flows from Financing Activities |
| Cash Paid for Owner Draw |
| Cash received for Note Payable proceeds |
| Net Cash Flow Used by Financing Activities |
| Net change in cash |
| Cash, beginning |
| Cash, ending |
