accounting problems

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unit_2_templates_p_3-25_and_4-20.xlsx
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P03-25

Student Name:
Class:
Problem 03-25
Requirement a. and b.
JEATER COMPANY
Horizontal Statements Model - 2012
Balance Sheet Income Statement Statement of
Event Event Accounts Merchandise Accounts Common Retained Net Cash Flows
No. Type Cash + Receivable + Inventory = Payable + Stock + Earnings Revenue - Expenses Income
Bal. 4,300
x: Enter the appropriate amount or NA for not affected.		 9,000
x: Enter the appropriate amount or NA for not affected.		 10,000
x: Enter the appropriate amount or NA for not affected.

x: Enter NA for not affected, OA for Operating Assets		 1a AS
Peggy Hussey: Enter AS (asset source), AU (asset use), AE (asset exchange) or CE (claims exchange) from the pull-down list for the Type of Event entries.

Jack Terry: Enter the appropriate amount.
Jack Terry: Use the drop-down list to select the appropriate item.		 1b (110) OA
2 AU
3 AU (1,980) (20) (2,000) (1,980) OA
4a AS
4b AU
5a AU (710) OA
5b AS
6 AU (60) OA
7 AS 5,390 (5,500) (110) 5,390 OA
8 AU
Bal. 0
Correct!
Requirement c.
JEATER COMPANY
Financial Statements
For the Year Ended December 31, 2012
Income Statement
Net Sales

x: Enter the appropriate data in the yellow cells. Your entry for "Net Income" will be verified.		 Cost of Goods Sold
Gross Margin
Operating Expenses
Transportation-out (60)
Operating Income
Statement of Changes in Stockholders' Equity
Beginning Common Stock
Plus: Stock Issued
Ending Common Stock
Beginning Retained Earnings
Plus: Net Income
Ending Retained Earnings
Total Stockholders' Equity
Balance Sheet
As of December 31, 2012
Assets
Cash
Merchandise Inventory
Total Assets
Liabilities
Stockholders' Equity
Common Stock
Retained Earnings
Total Stockholders' Equity
Total Liabilities and Stockholders' Equity
Statement of Cash Flows
For the Year Ended December 31, 2012
Cash Flow from Operating Activities:
Inflow from Customers $ 4,680
x: Enter the appropriate data in the yellow cells. Your entry for Net Cash Flow for each section will be verified.

x: Enter the appropriate amount or NA for not affected.
Peggy Hussey: Enter AS (asset source), AU (asset use), AE (asset exchange) or CE (claims exchange) from the pull-down list for the Type of Event entries.
x: Enter the appropriate amount or NA for not affected.
x: Enter the appropriate data in the yellow cells. Your entry for "Total Stockholders' Equity" will be verified.
x: Enter the appropriate amount or NA for not affected.
x: Enter the appropriate amount or NA for not affected.
x: Enter the appropriate amount or NA for not affected.
x: Enter the appropriate amount or NA for not affected.
x: Enter the appropriate amount or NA for not affected.
x: Enter the appropriate amount or NA for not affected.
x: Enter the appropriate amount or NA for not affected.
x: Enter the appropriate amount or NA for not affected.
x: Enter the appropriate amount or NA for not affected.
x: Enter the appropriate amount or NA for not affected.
x: Enter the appropriate amount or NA for not affected.
x: Enter the appropriate amount or NA for not affected.
x: Enter the appropriate data in the yellow cells. Your entry for "Total Liabilities and Stockholders' Equity" will be verified.		 Outflow for Inventory (2,090)
Outflow for Expenses (60)
Net Cash Flow from Operating Activities:
Cash Flow from Investing Activities
Cash Flow from Financing Activities
Net Change in Cash
Plus: Beginning Cash Balance
Ending Cash Balance

P04-20

Student Name:
Class:
Problem 04-20
SUPERIOR AUTO SUPPLY, INC.
Bank Reconciliation
April 30, 2012
Unadjusted Bank Balance, May 31, 2012

x: Enter the appropriate data in the yellow cells. Your entry for "Unadjusted Book Balance, April 30, 2007" will be verified.		 Add: Deposits in transit
Bank Error
Less: Outstanding Checks:
3013
3054
3056
True Cash Balance, May 31, 2012 $ 6,605
Unadjusted Book Balance, May 31, 2012 $ 5,565 Correct!
Add: Note collected by bank
Error in recording payment for utilities
Less: Collection Fee
Bank Service Charge
NSF Checks (160)
True Cash Balance, May 31, 2012

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