01-5A_22e - g. Bal. h. Bal. i. Bal. j. Bal. k. Bal. l. Bal....

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Problem 1-5A Name: Section: Enter the appropriate amount or item in the shaded cells. An asterisk (*) will appear next to an incorrect amount in the outlined cells. 1. Owner's Assets = Liabilities + Equity Accounts Accounts Kerry Ulman, Cash + Receivable + Supplies + Land = Payable + Capital Kerry Ulman, + + = + Capital Kerry Ulman, = + Capital = Kerry Ulman, Capital Enter the appropriate amount or item in the shaded cells. Place a plus sign or minus sign in the small box beside the amoun Row (a) has been completed as an example. An asterisk (*) will appear next to an incorrect amount in the outlined cells. 2. Assets = Liabilities + Accounts Accounts Kerry Ulman, Kerry Ulman, Cash + Receivable + Supplies + Land = Payable + Capital - Drawing + Bal. 8,500 15,500 1,600 18,000 5,200 38,400 a. + 30,000 + 30,000 Bal. 38,500 15,500 1,600 18,000 5,200 68,400 b. Bal. c. Bal. d. Bal. e. Bal. f. Bal.
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Unformatted text preview: g. Bal. h. Bal. i. Bal. j. Bal. k. Bal. l. Bal. nt. Owner's Equity Dry Dry Cleaning Cleaning Wages Rent Supplies Truck Utilities Misc. Sales-Expense-Expense-Expense-Expense-Expense-Expense-Expense Problem 1-5A (cont'd) Name: Section: 3. a. ARGON DRY CLEANERS Income Statement Dry cleaning sales Expenses: Total expenses Net income b. ARGON DRY CLEANERS Statement of Owner's Equity Kerry Ulman, capital, July 1, 2008 Kerry Ulman, capital, July 31, 2008 c. ARGON DRY CLEANERS Balance Sheet Assets Liabilities Owner's Equity Total liabilities and Total assets owner's equity 4. ARGON DRY CLEANERS Statement of Cash Flows Cash flows from operating activities: Cash flows from investing activities: Purchase of land Cash flows from financing activities:...
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This note was uploaded on 03/12/2011 for the course ACCT 2011 taught by Professor Field during the Fall '09 term at University of Minnesota Morris.

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01-5A_22e - g. Bal. h. Bal. i. Bal. j. Bal. k. Bal. l. Bal....

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