Name:
Section:
Score: 0%
Key Code:
1.
2.
Balance Sheet
2
A red asterisk (*) will appear in the column to the right of an incorrect answer.
Problem 5-2
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:
1.
Cash balance according to bank statement 27,150$
2.
= Liabilities +
Stockholders’
Equity
Notes Accounts Retained
Cash + Receivable = Payable + Earnings
Balance Sheet
Statement of
Cash Flows
Income
Statement
Assets
A red asterisk (*) will appear in the column to the right of an incorrect answer.
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
Problem 5-2
Instructions
See student sheet for student’s score
ON
Name:
Section:
Score: 0%
Key Code:
1.
Cash balance according to bank statement
Add:
* Cash balance, April 1
Plus cash deposited in April
Less checks written in April
Balance per company’s records, April 30
2.
= Liabilities +
Stockholders’
Equity
Notes/Accts. Accounts Retained
Cash + Receivable = Payable + Earnings
Problem 5-3
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
2
A red asterisk (*) will appear in the column to the right of an incorrect answer.
Income
Statement
Balance Sheet
Statement of
Cash Flows
Assets
Name:
Section:
Score:
Scoring:
1.
Cash balance according to bank statement 40,360$
Add: 9,275
49,635$
Deduct: 14,300$
450 14,750
Adjusted balance 34,885$
* Cash balance, April 1 23,600$
Plus cash deposited in April 80,150
Less checks written in April (72,800)
Balance per company’s records, April 30 30,950$
2.
= Liabilities +
Stockholders’
Notes/Accts. Accounts Retained
Deposit of April 30, not recorded by bank
Outstanding checks
SOLUTION
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
A red asterisk (*) will appear in the column to the right of an incorrect answer.
Bank error in charging check as $270 instead of $720
Problem 5-3
Instructions
See student sheet for student’s score
ON
Balance Sheet
Statement of
Income
Assets
Bank service charges
Proceeds of note collected by bank, including interest
Company error in recording check
Check returned because of insufficient funds
Name:
Section:
Score: 0%
Key Code:
1.
Cash balance according to bank statement
Add:
Deduct outstanding checks:
Adjusted balance
* Cash balance, May 1
Plus cash deposited in May
Less checks written in May
Balance per company’s records, May 31
2.
= Liabilities +
Stockholders’
Equity
Notes/Accts. Accounts Retained
Cash + Receivable = Payable + Earnings
3.
The amount of cash as it should appear on the balance sheet
4.
Problem 5-4
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
2
Income
Statement
Balance Sheet
Statement of
Cash Flows
Assets
Name:
Section:
Score:
Scoring:
1.
Cash balance according to bank statement 11,697.04$
Add: 580.34
12,277.38$
Deduct outstanding checks:
No. 613 137.50$
No. 628 837.70
No. 634 503.30 1,478.50
* Cash balance, May 1 9,578.00$
Plus cash deposited in May 5,255.89
Less checks written in May (8,342.01)
Balance per company’s records, May 31 6,491.88$
2.
= Liabilities +
Stockholders’
Notes/Accts. Accounts Retained
Cash + Receivable = Payable + Earnings
Effects of note collection and correcting company error O 4,817.00 4,817.00 (4,000.00) 27.00 790.00 630.00 Sales
SOLUTION
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
A red asterisk (*) will appear in the column to the right of an incorrect answer.
Problem 5-4
Instructions
See student sheet for student’s score
ON
Assets
Statement of
Cash Flows
Deposit of May 31, not recorded by bank
Statement
Balance Sheet
Income
Proceeds of note collected by bank, including interest
Company error in charging check of $185.63 instead of $158.63
Check returned because of insufficient funds
Bank service charges
Company error in recording deposit as $189.24 instead of $819.24