Inclass Western.xls - Solution to Accounting Cycle Problem The Western Company For Year 2014 Asset Transactions Beginning Balances 1 Effect of Owners

Inclass Western.xls - Solution to Accounting Cycle Problem...

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Solution to Accounting Cycle Problem -- The Western Company For Year 2014 Asset Stockholders' Equity Transactions: Assets Liabilities Common Stock Retained Earnings Beginning Balances 0 0 0 0 1. Effect of Owners' Investment 5000 5000 2. Effect of Borrowing 3000 3000 3. Effect of Revenue 2500 2500 Revenue 4. Effect of Expense -1300 -1300 Expenses 5. Effect of Distribution -400 -400 Dividends Ending Balances 8800 3000 5000 800 For Year 2015 Asset Stockholders' Equity Cash Land Liabilities Common Stock Retained Earnings Beginning Balance Effect of Asset Exch. Effect of Owners' Investment Effect of Borrowing Effect of Revenue Revenue Effect of Expense Expense Effect of Distribution Dividend Ending Balances For Year 2016 Stockholders' Equity Cash Land Liabilities Common Stock Retained Earnings Beginning Balance Effect of Owners' Investment Effect of Repayment Effect of Revenue Revenue Effect of Expense Expense Effect of Distribution Dividend Ending Balances
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Solution to Accounting Cycle Problem: The Western Company
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