Ch04P13B - Statement of Owner's Equity For the Year ended...

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Problem 4-13B 2. 4. Orca Bay Hockey Holdings Analysis component: Work Sheet For Year Ended June 30, 2005 Account Adjustments Income Statement Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Orca Bay Hockey Holdings Cash 56,000 Income Statement Accounts receivable 14,000 For the Year ended June 30, 2005 Repair supplies 1,400 Prepaid arena rental 91,000 Revenues: Hockey Equipment 214,000 Ticket revenues Acc amortization-hockey equipment 82,000 Accounts payable 2,700 Operating Expenses Unearned ticket revenue 9,800 Notes payable 80,000 Salaries expense Ben Gibson, capital 225,700 Arena rental expense Ben Gibson, withdrawals 36,000 Amortization expense, hockey equipment Ticket revenue 275,000 Repairs supplies expense Salaries expense 175,000 Other expenses Arena rental expense 84,000 Interest expense Other expenses 3,800 Total operating expenses - Net loss $- Totals 675,200 675,200 Orca Bay Hockey Holdings
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Unformatted text preview: Statement of Owner's Equity For the Year ended June 30, 2005 Ben Gibson, capital, July1 Add:Investment by owner - Less:Withdrawal by owner Net loss - Ben Gibson, capital, June 30 $- Orca Bay Hockey Holdings Balance Sheet June 30, 2005 Assets Current Assets: Cash Accounts receivable Repair supplies inventory Prepaid arena rental Total current assets $- Capital Assets: Hockey equipment Less: Accumulated amortization Total capital assets - Total assets $- Liabilities and Owner's Equity Current Liabilities: Accounts payable Interest Payable Salaries Payable Unearned ticket revenue Notes Payable Total liabilities - Owner's Equity: Ben Gibson, capital Total liabilities and owner's equity $- Unadjusted Trial Balance Adjusted Trial Balance Balance Sheet & Statement of Owner's Equity...
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This note was uploaded on 08/22/2009 for the course ACCT 1202 taught by Professor Carmendima during the Winter '06 term at Niagara College.

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