01-5B_22e - k Bal l Bal nt Owner's Equity Dry Dry Cleaning...

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Problem 1-5B 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 Jean Potts, Cash + Receivable + Supplies + Land = Payable + Capital Jean Potts, + + + = + Capital Jean Potts, = + Capital = Jean Potts, 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 Jean Potts, Jean Potts, Cash + Receivable + Supplies + Land = Payable + Capital - Drawing + Bal. 17,200 19,000 3,752 30,000 8,200 61,750 a. + 50,000 + 50,000 Bal. 67,200 19,000 3,750 30,000 8,200 111,750 b. Bal. c. Bal. d. Bal. e. Bal. f. Bal. g. Bal. h. Bal. i. Bal. j. Bal.
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Unformatted text preview: 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 1-5B (cont'd) Name: Section: 3. a. SKIVVY DRY CLEANERS Income Statement Dry cleaning sales Expenses: Total expenses Net income b. SKIVVY DRY CLEANERS Statement of Owner's Equity Jean Potts, capital, November 1, 2008 Jean Potts, capital, November 30, 2008 c. SKIVVY DRY CLEANERS Balance Sheet November 30, 2008 Assets Liabilities Accounts payable Owner's Equity Jean Potts, capital Total liabilities and Total assets owner's equity 4. SKIVVY DRY CLEANERS Statement of Cash Flows Cash flows from operating activities: Cash flows from investing activities: 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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01-5B_22e - k Bal l Bal nt Owner's Equity Dry Dry Cleaning...

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