SUAWorksheet05

SUAWorksheet05 -...

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Unformatted text preview: file:////home/vdimitrov/24068/3636a1d9756699481cbfb6b2931d350d42c6a43f.xls This Excel file has fifteen separate spreadsheets (after this page) for the Systems Understanding Aid assignments. At the bottom of this window, you should be able to see a tab for each of the pages: Balance Sheet Income Statement Cash Flows Trial Balance GL Assets GL Liabilities & OE GL Income GL Expenses General Journal Other Journals (sales & cash receipts, purchases & disbursements, payroll) AR Ledger AP Ledger Payroll Fixed Assets Bank Reconciliation (Rec) You are to use these spreadsheets to complete the last stage of the SUA exercise. These pages replicate the paper versions of the documents contained in the SUA documentation. Remember: Save your work frequently. Submit this entire file as an attachment to email when you are finished : Email address: [email protected] Subject line: 455 SUA 05 WAREN DISTRIBUTING BALANCE SHEET AT DECEMBER 31, 2009 AND 2008 ASSETS 2009 2008 CURRENT ASSETS Cash $11,025.19 Accounts receivable - net 7,814.19 Inventory 101,681.00 Marketable securities 0.00 Total current assets 0.00 120,520.38 accumulated depreciation 239,105.50 Total assets $0.00 $359,625.88 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $11,279.35 Payroll taxes withheld and payable 3,284.54 Federal income taxes payable 29,797.00 Interest payable 0.00 Total current liabilities 0.00 44,360.89 NOTE PAYABLE 0.00 Total liabilities 0.00 44,360.89 STOCKHOLDERS' EQUITY Common stock 225,000.00 Retained earnings 90,264.99 Total stockholders' equity 0.00 315,264.99 Total liabilities and stockholders' equity $0.00 $359,625.88 FIXED ASSETS - Net of WAREN DISTRIBUTING STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER 31, 2009 REVENUE Sales Less: Sales returns and allowances Sales discounts taken Net sales 0.00 COST OF GOODS SOLD Beginning inventory Net purchases Freight-in Goods available for sale 0.00 Less: Ending inventory Cost of goods sold 0.00 GROSS MARGIN 0.00 OPERATING EXPENSES Rent expense Advertising expense Office supplies expense Depreciation expense Wages and salaries Payroll taxes Bad debt expense Other operating expense Total operating expenses 0.00 Operating income 0.00 INCOME BEFORE TAXES 0.00 FEDERAL INCOME TAXES NET INCOME 0.00 $0.00 Check Figure $218,501.24 OTHER INCOME - Miscellaneous income OTHER EXPENSE - Interest expense RETAINED EARNINGS - Beginning of year RETAINED EARNINGS - End of year WAREN DISTRIBUTING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2009 Check Figures CASH FLOWS FROM OPERATING ACTIVITIES Net income Adjustments to reconcile net income to net cash from operating activities Depreciation (Increase) decrease in assets: Accounts receivable Inventory Increase (decrease) in liabilities: Accounts payable Payroll taxes withheld and payable Income taxes payable Interest payable Net cash provided by operating activities 0.00 $58,041.48 CASH FLOWS FROM INVESTING ACTIVITIES Cash payments for fixed assets...
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This document was uploaded on 12/27/2011.

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SUAWorksheet05 -...

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