This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: Transactions: Sale for Cash -- Sale on Account -- Purchase Supplies on Account Cash Accounts Payable Retained Earnings Beg Bal. Beg Bal. 0Beg. Bal. Sale for Cash Purchase Supplies Close Rev. Acct. End Bal. End Bal. Close Exp. Acct. 0End Bal. Accounts Receivable Beg Bal. Service Revenue Sale on Account 0Beg. Bal. End Bal. Sale for Cash Sale on Account 0Bal. Pre-Close Close Rev. Acct. Bal. Post-Close Supplies Expense Beg. Bal. Purchase Supplies Bal. Pre-Close Close Exp. Acct. Bal. Post-Close Balance Sheets Income Statement Statement of Cash Flows Current Prior Year Year Service Revenue Net Income Cash $0 Supplies Expense Increase in A/R Accounts Receivable Net Income $0 Increase in A/P Total Assets $0 $0 Cash Provided by Operating Activities 0 Accounts Payable $0 Retained Earnings Cash Provided by Total Liab. & Equity $0 $0 Investing Activities 0 Cash Provided by Financing Activities 0 Net Increase in Cash $0 Cash Flow Example -- Not-So-Simple Company-- First Year of Operation Transactions: Sale for Cash -- Sale on Account -- Purchase Supplies on Account...
View Full Document
This note was uploaded on 02/09/2012 for the course ACC 221 taught by Professor Wiegand during the Fall '08 term at Miami University.
- Fall '08