Week 2 problems.xlsx

Week 2 problems.xlsx - 2-15A A Event Assets Prepaid Cash...

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Life, Inc 2-15A. A. Event Assets = Liabilites + Stockholder's Equity Cash $36,000 $36,000 Revenue 2/1/2016 ($18,000) $18,000 ($16,500) ($16,500) Rent Expense B. Balance Sheet Income Statem Assets = Liabilites + Stockholder's Equity Revenue - Expense Cash 1 $36,000 N/A N/A N/A $36,000 N/A N/A 2 ($18,000) $18,000 N/A N/A N/A N/A N/A 3 N/A ($16,500) N/A N/A N/A N/A $16,500 C. $1,500 2-19A. A. Event Balance Sheet Income Statem Assets = Liabilites + Stockholder's Equity Cash Supplies Revenue - Expense 1 $36,000 NA NA $36,000 NA NA NA 2 $54,000 NA NA NA $54,000 $54,000 NA 3 NA $2,800 $2,800 NA NA NA $2,800 4 ($2,400) NA $2,400 NA NA NA $2,400 5 ($5,000) NA NA NA $5,000 NA NA 6 ($31,000) NA NA NA ($31,000) NA ($31,000) 7 NA NA NA 200 200 200 NA 8 NA NA NA 27,000 $27,000 $27,000 NA 2-27A. A. Net Income A NA NA DECREASE $9,000 ADJ. DECREASE $2,250 NA NA B. NA NA DECREASE $2,500 ADJ. INCREASE $300 NA NA C. INCREASE $10,000 INCREASE $10,000 D. NA NA DECREASE $2,400 ADJ. DECREASE $1,600 NA NA E. DECREASE $5,600 DECREASE $5,600 F. INCREASE $3,000 INCREASE $3,000 G. NA NA INCREASE $15,000 H. INCREASE
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