HW_2 - b 5 Liability a Owe Robert 3 bushes 6 Owners...

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1. Balance sheet beginning of the season 2. Balance sheet end of the season 3. Income statement for the season Assets = liability + Owners Equity Owner has 30 acre plot 30*5 =150 bushels Before the Harvest 20-acre plot 20 bushels of wheat 20 pounds of fertilizer 1 ox For plow make arrangement with Robert 1. Assets :: a. Land 20*5 =100 bushels, b. Owners raw material wheat 20 bushels c. 1 ox 40 bushels d. Raw material 20 pounds fertilizers = 2 bushels e. Total Assets i.e. 100+20+40+2=162 2. Liability+ Owners Equity = 162 After the harvest Slightly used ox Plow broken beyond repair 223 bushels of wheat owe Robert 3 bushes of wheat. Used all seeds and fertilizers Owner took 20 bushels of the harvest 3. Income Statement a. Total wheat produced : 243 4. Assets(after the Harvest ) a. 223 bushels
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Unformatted text preview: b. 5. Liability a. Owe Robert 3 bushes 6. Owners personal account a. 20 Frederick has 10*5 = 50 bushels worth Before the Harvest 10-acre plot 10 bushels of wheat 10 pound of fertilizer 1 ox For plow make arrangement with Robert 7. Assets a. Land 10*5 = 50 bushels b. Owners raw material wheat 10 bushels c. 1 ox 40 bushels d. Raw material 10 pounds fertilizers = 1 bushels e. Total Assets i.e. 50+10+40+1=101 8. Liability+ Owners Equity = 101 After the harvest Partially used ox Plow fully paid i.e. 3 bushels of wheat 105 bushes of wheat Used all fertilizers and seed. Owner took 30 bushels of the harvest 9. Assets :: a. land 10*5 =50 bushels, b. wheat 10 bushels c. 1 ox 40 bushels d. 10 pounds fertilizers = 1 bushels e....
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HW_2 - b 5 Liability a Owe Robert 3 bushes 6 Owners...

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