Score:
Key Code:
Enter the appropriate amounts/formulas in the answer cells, or select from the drop-down list. In part 2, place
a plus sign or minus sign in the small box beside the amount. Row (a) has been completed as an example.
An asterisk (*) will appear to the right of incorrect entries in outlined answer cells.
Enter a zero where you would otherwise leave an amount cell blank.
1.
=Liabilities +
Accounts Accounts Capital Retained
Cash + Receivable + Supplies + Land = Payable + Stock Earnings 3. a.
Retained
+ + + = + + Earnings
= + Retained Earnings Dry cleaning sales
Expenses:
= Retained Earnings
2. Liabilities
Dry Dry
Accounts Accounts Capital Retained Cleaning Cleaning Wages Rent Supplies Truck Utilities Misc. Total expenses
Cash
Receivable
Supplies Land Payable Stock Earnings Dividends Revenue Expense Expense Expense Expense Expense Expense Expense Net income
Bal. 45,000 93,000 7,000 75,000 40,000 60,000 120,000 – – – – – – – – –
a. + 35,000 – – – –
+
35,000 – – – – – – – – – –
Bal. 80,000 93,000 7,000 75,000 40,000 95,000 120,000 – – – – – – – – – b.
b.
Bal.
c.
Bal. Retained earnings, July 1, 2014
d.
Bal.
e.
Bal. Retained earnings, July 31, 2014
f.
Bal.
g.
Bal. c.
h.
Bal.
i.
Bal. Assets
j.
Bal.
k.
Bal.
l. Total stockholders’ equity
Bal. Total assets Total liabilities and stockholders’ equity
4.
Cash flows from operating activities:
Cash flows from investing activities:
Cash flows from financing activities:
Increase in cash
Cash balance, July 1, 2014
Cash balance, July 31, 2014
+
+
+
=
=
+
D’LITE DRY CLEANERS
Income Statement
Stockholders’ Equity
+
+
Retained Earnings Statement
–
–
–
–
D’LITE DRY CLEANERS
Liabilities
Stockholders’ Equity
Assets
=
D’LITE DRY CLEANERS
+
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
[Key code here]
Stockholders’ Equity
Statement of Cash Flows
–
–
–
–
+
Problem 1-5A
0%
Assets
Name:
Section:
Instructions
Score:
Enter the appropriate amounts/formulas in the answer cells, or select from the drop-down list. In part 2, place
a plus sign or minus sign in the small box beside the amount. Row (a) has been completed as an example.
An asterisk (*) will appear to the right of incorrect entries in outlined answer cells.
Enter a zero where you would otherwise leave an amount cell blank.
1.
Liabilities
Accounts Accounts Capital Retained
Cash + Receivable + Supplies + Land Payable Stock Earnings 3. a.
Retained
45,000 + 93,000 + 7,000 + 75,000 = 40,000 + 60,000 Earnings
Bal. 45,000 93,000 7,000 75,000 40,000 60,000 120,000 – – – – – – – – –
a. + 35,000 – – – –
+
35,000 – – – – – – – – – –
Bal. 80,000 93,000 7,000 75,000 40,000 95,000 120,000 – – – – – – – – – b.
b. – 50,000 – – + 50,000 – – – – – – – – – – – –
Bal. 30,000 93,000 7,000 125,000 40,000 95,000 120,000 – – – – – – – – –
4.
Cash flows from operating activities:
Cash received from customers 120,125$
D’LITE DRY CLEANERS
Retained Earnings Statement
For the Month Ended July 31, 2014
D’LITE DRY CLEANERS
Income Statement
For the Month Ended July 31, 2014
+
+
For the Month Ended July 31, 2014
D’LITE DRY CLEANERS
Statement of Cash Flows
Name:
Section:
Answers are entered in the cells with gray backgrounds.
Assets
Problem 1-5A
Solution
ON
Instructions
Cells with non-gray backgrounds are protected and cannot be edited.
=
=
+
+
Stockholders’ Equity
=
+
=