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Unformatted text preview: ngs For the Month (through transaction #1) Beginning retained earnings Plus: Net income $ Less: Dividends - Ending retained earnings $ - $ - RAJAGOPUL CORPORATION Balance Sheet As of Completion of Transaction #1 Assets Cash Accounts receivable - Building - Total assets $ - $ - Liabilities Wages payable $ Notes payable - Total liabilities Stockholders’ equity Capital stock $ Retained earnings - Total stockholders’ equity - Total liabilities and equity $ - Download free ebooks at bookboon.com 20 Accounting Cycle Exercises I Problem 5: Worksheet RAJAGOPUL CORPORATION Income Statement For the Month (through transaction #2) Revenues Services to customers $ - Expenses Wages $ - Utilities - Net income $ - $ - RAJAGOPUL CORPORATION Statement of Retained Earnings For the Month (through transaction #2) Beginning retained earnings Plus: Net income $ Less: Dividends - Ending retained earnings $ - $ - RAJAGOPUL CORPORATION Balance Sheet As of Completion of Transaction #2 Assets Cash Accounts receivable - Building - Total assets $ - $ - Liabilities Wages payable $ Notes payable - Total liabilities Stockholders’ equity Capital stock $ Retained earnings - Total stockholders’ equity - Total liabilities and equity $ - Download free ebooks at bookboon.com 21 Accounting Cycle Exercises I Problem 5: Worksheet RAJAGOPUL CORPORATION Income Statement For the Month (through transaction #3) Revenues Services to customers $ - Expenses Wages $ - Utilities - Net income $ - $ - RAJAGOPUL CORPORATION Statement of Retained Earnings For the Month (through transaction #3) Beginning retained earnings Plus: Net income $ Less: Dividends - Ending retained earnings Please click the advert - $ - THE BEST MASTER IN THE NETHERLANDS Download free ebooks at bookboon.com 22 Accounting Cycle Exercises I Problem 5: Worksheet RAJAGOPUL CORPORATION Balance Sheet As of Completion of Transaction #3 Assets Cash $ Accounts receivable - Building - Total assets $ - $ - Liabilities Wages payable $ - Notes payable - Total liabilities Stockholders’ equity Capital stock $ - Retained earnings - Total stockholders’ equity - Total liabilities and equity $ - $ - RAJAGOPUL CORPORATION Income Statement For the Month (through transaction #4) Revenues Services to customers Expenses Wages $ - Utilities - Net income $ - $ - RAJAGOPUL CORPORATION Statement of Retained Earnings For the Month (through transaction #4) Beginning retained earnings Plus: Net income $ Less: Dividends - Ending retained earnings $ - Download free ebooks at bookboon.com 23 Accounting Cycle Exercises I Problem 5: Worksheet RAJAGOPUL CORPORATION Balance Sheet As of Completion of Transaction #4 Assets Cash $ Accounts receivable - Building - Total assets $ - $ - Liabilities Wages payable $ - Notes payable - Total liabilities Stockholders’ equity Capital stock $ - Retained earnings - Total stockholders’ equity - Total liabilities and equity $ - $ - RAJAGOPUL CORPORATION Income Statement For the Month (through transaction #5) Revenues Services to customers Expenses Wages $ - Utilities - Net income $ - $ - RAJAGOPUL CORPORATION Statement of Retained Earnings For the Month (through transaction #5) Beginning retained earnings Plus: Net income $ Less: Dividends - Ending retained earnings $ - Download free ebooks at bookboon.com 24 Accounting Cycle Exercises I Problem 5: Worksheet RAJAGOPUL CORPORATION Balance Sheet As of Completion of Transaction #5 Assets Cash $ Accounts receivable - Building - Total assets $ - $ - Liabilities Wages payable $ Notes payable - Total liabilities Stockholders’ equity Capital stock $ Retained earnings - Total stockholders’ equity - Total liabilities and equity $ - Please click the advert Getting ahead in your management career Our expertise in flexible and accessible education and your passion to succeed will enable you to get ahead. 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Get ahead, get in touch www.le.ac.uk/management +44 (0)116 252 5377 dladvisers@le.ac.uk Distance Learning School of Management Postgraduate Programmes Download free ebooks at bookboon.com 25 Accounting Cycle Exercises I Problem 5: Worksheet RAJAGOPUL CORPORATION Income Statement For the Month (through transaction #6) Revenues Services to customers $ - Expenses Wages $ - Utilities - Net income $ - $ - RAJAGOPUL CORPORATION Statement of Retained Earnings For the Month (through transaction #6) Beginning retained earnings Plus: Net income $ Less: Dividends - Ending retained earnings $ - $ - RAJAGOPUL CORPORATION Balance S...
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