Page 47_1 - AC101 Handbook Problem Page 47 Balance Sheet 1...

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AC101 Handbook Problem Page 47 Balance Sheet Income Statement Balance Sheet 9/1/2008 For the Month Ending Sep-08 9/30/2008 1 $6,000 PPD Expense $2,000 G S&A - Rent $4,000 PPD Expense Current Asset Expense Current Asset 2 $36,000 Deferred Revenue $4,000 Ticket Sales $32,000 Deferred Revenue Current Liability Revenue Current Liability 3 $6,300 PPD Expense $700 G S&A - Insurance $5,600 PPD Expense Current Asset Expense Current Asset 4 $- N/A $7,200 Ticket Sales $- N/A N/A Revenue N/A 5 $- N/A $5,400 COGS - Actor Wages $5,400 Wage Payable N/A Expense Current Liability 6 $900 PPD Expense $900 COGS - Misc $- N/A Current Asset Expense N/A 9/1/2008 9/30/2008 CHANGE Assets $13,200 $9,600 $(3,600) Liabilities $36,000 $37,400 $1,400 INCOME EFFECT Revenues September Production $4,000 Window Sales $7,200 Total Revenues $11,200 Expenses September Rent $2,000 September Insurance $700 September Wages $5,400 September Playbills $900 Total Expenses $9,000 Net Income $2,200 CASH EFFECT Cash In Prepaid Ticket Sales $36,000 Window Ticket Sales $7,200 Total Cash In $43,200 Cash Out Prepaid Rent $6,000 Prepaid Insurance $6,300 Playbills $900 Total Cash Out $13,200 Net Cash In/(Out) $30,000
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AC101 Accrual Problem Bob's Oil is a home heating oil delivery company and the as the weather is getting cooler, his business is getting hotter!
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