4-27
PROBLEM 4B-4 (CONCLUDED)
LIABILITIES AND OWNER’S EQUITY
00
00
00
0
0
0
7
8
5
4
8
3
$5
7
$13
00
00
7
0
1
3
$5
DON’S REPAIR SERVICE
BALANCE SHEET
SEPTEMBER 30, 201X
Liabilities
Accounts Payable
Wages Payable
Total Liabilities
Owner’s Equity
D. Hilton, Capital
Total Liabilities and
Owner’s Equity
ASSETS
00
00
00
00
00
0
0
0
0
0
0
0
0
5
5
0
3
9
1
3
$4
3
2
3
$13
00
00)
0
0
0
5
0
8
$5
(1
Cash
Prepaid Insurance
Repair Supplies
Repair Equipment
Less: Acc. Dep.
Total Assets
FINANCIAL REPORT PROBLEM SOLUTION—2013 Kellogg’s Annual Report
4-29
SMIITH COMPUTER CENTER
WORKSHEET
FOR THE QUARTER ENDED SEPTEMBER 30, 201X
Balance Sheet
Cr.
00
00
00
00
00
00
00
0
0
0
0
0
7
7
7
0
5
1
3
5
8
1
0
1
1
4
4
8
6
6
6
12
Dr.
00
00
00
00
00
00
00
00
0
0
2
0
0
5
7
7
2
0
9
0
0
7
8
8
1
7
1
9
3
1
8
8
Income Statement
Cr.
00
00
00
0
0
0
2
2
2
2
2
2
10
10
10
Dr.
00
00
00
00
00
00
00
00
00
00
00
00
0
0
0
5
0
0
8
0
0
3
7
0
0
0
6
1
5
7
0
5
1
6
5
2
9
5
1
1
4
3
1
1
7
4
2
1
3
6
10
00
00
00
00
00
00
Adj. Trial Balance
Cr.
0
0
0
0
0
0
7
0
2
5
1
5
1
0
2
1
1
6
6
10
16
Dr.
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
0
0
2
0
0
5
0
0
0
5
0
0
8
0
0
0
2
0
9
0
0
7
0
0
6
1
5
7
0
5
1
5
1
7
1
9
3
1
9
5
1
1
4
3
1
1
6
2
2
3
3
1
16
Adjustments
Cr.
00
00
00
00
8
0
0
8
0
5
1
6
3
1
1
5
1
Dr.
00
00
00
00
00
0
8
0
0
8
0
0
5
1
6
0
3
1
1
5
1
1
Cr.
00
00
00
00
Trial Balance
0
0
0
0
7
0
2
9
1
0
2
3
6
10
16
Dr.
00
00
00
00
00
00
00
00
00
00
00
00
00
0
0
0
0
0
5
0
0
0
5
0
0
0
2
0
0
0
0
7
0
0
6
1
5
7
9
1
7
5
9
3
1
9
5
1
1
4
3
2
2
3
3
16
Cash
Accts. Receiv.
Supplies
Comp. Shop Eq.
Office Equip.
Accts. Payable
Feldman, Cap.
Feldman, With.
Service Rev.
Adv. Expense
Rent Expense
Util. Expense
Phone Expense
Insurance Exp.
Postage Exp.
Supplies Exp.
Depr. Exp. C.S.
Ac. Dep., C.S. E.
Depr. Exp. Of. E
Ac. Dep., Of. E.
Net Income
00
0
0
5
00
0
0
5
00
0
0
0
1
00
0
0
5
1
Prepaid Rent
SMITH COMPUTER CENTER
INCOME STATEMENT
FOR THE QUARTER ENDED SEPTEMBER 30, 201X
Revenue:
Service Revenue
$10
2
2
0
00
Operating Expenses:
Advertising Expense
$
9
0
0
00
Rent Expense
1
5
0
0
00
Utilities Expense
1
6
0
00
Phone Expense
1
1
5
00
Insurance Expense
4
5
0
00
Postage Expense
7
0
00
Supplies Expense
3
0
8
00
Depr. Exp., Comp. Shop Equip.
1
5
0
00
Depr. Exp., Office Equip.
1
1
0
00
Total Operating Expenses
3
7
6
3
00
Net Income
$6
4
5
7
00
SMITH COMPUTER CENTER
STATEMENT OF OWNER’S EQUITY
FOR THE QUARTER ENDED SEPTEMBER 30, 201X
Feldman, Capital, July 1, 201X
$
0
00
Investment in July
6
0
0
0
00
Total Investment
6
0
0
0
00
Net Income
$6
4
5
7
00
Less: Feldman, Withdrawals
(1
7
5
00)
Net Increase in Capital
6
2
8
2
00
Feldman, Capital, Sept. 30, 201X
$12
2
8
2
00
4-31
CONTINUING PROBLEM
LIABILITIES AND OWNER’S EQUITY
00
00
00
0
2
2
7
8
5
1
2
4
$
12
$12
Liabilities
Accounts Payable
Owner’s Equity
Feldman Capital
Total Liabilities and
Owner’s Equity
SMITH COMPUTER CENTER
BALANCE SHEET
SEPTEMBER 30, 201X
00
00
00
00
00
00
00
0
0
0
2
0
0
2
2
0
0
9
5
9
5
1
7
5
1
7
1
4
$2
2
3
3
$12
ASSETS
00
00)
00
00)
0
0
0
0
9
(1
3
(1
$3
3
Cash
Accounts Receivable
Prepaid Rent
Supplies
Comp. Shop Equip.
Less: Accum. Depr.
Office Equip.
Less: Accum. Depr.
Total Assets