Problem 4-1
Name:
Section:
Score: 0%
Key Code:
1.
Revenues from sales:
Sales
Less: Sales returns and allowances
Sales discounts
Net sales
Cost of merchandise sold
Total selling expenses
Administrative expenses:
2.
Retained earnings, July 1, 20Y7
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
AQUA CO.
AQUA CO.
Income Statement
2
Retained Earnings Statement
Retained earnings, June 30, 20Y8
3.
Current assets:
Property, plant and equipment:
Total current liabilities:
Current liabilities:
4. a.
b.
Total current assets:
Liabilities
Assets
AQUA CO.
Balance Sheet
Name:
Section:
Score:
For the Year Ended June 30, 20Y8
Scoring:
1.
Revenues from sales:
Sales 3,625,000$
Miscellaneous selling expense 2,000
Total selling expenses 445,000$
Administrative expenses:
Office salaries expense 77,400$
Rent expense 39,900
2.
Problem 4-1
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
ON
SOLUTION
See student sheet for student’s score
A red asterisk (*) will appear in the column to the right of an incorrect answer.
AQUA CO.
Income Statement
For the Year Ended June 30, 20Y8
AQUA CO.
Retained Earnings Statement
Retained earnings, June 30, 20Y8 903,800$
3.
Current assets:
Office equipment
Less accumulated depreciation 186,700 324,800
Total property, plant and equipment 390,500
Total assets 1,031,000$
Current liabilities:
4. a.
Liabilities
The multiple-step form contains multiple sections for revenues and expenses; the single-step form does
not.
June 30, 20Y8
Assets
AQUA CO.
Balance Sheet
Office equipment
Name:
Section:
Score: 0%
Key Code:
1.
2.
Retained earnings, July 1, 20Y7
AQUA CO.
Retained Earnings Statement
AQUA CO.
Income Statement
A red asterisk (*) will appear in the column to the right of an incorrect answer.
2
Problem 4-2
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
Name:
Section:
Score:
Scoring: ON
1.
Revenues:
Net sales 3,567,000$
Expenses:
2.
Retained earnings, July 1, 20Y7 253,800$
Net income for the year 775,000$
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
Problem 4-2
SOLUTION
See student sheet for student’s score
Retained Earnings Statement
For the Year Ended June 30, 20Y8
AQUA CO.
Income Statement
For the Year Ended June 30, 20Y8
AQUA CO.