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 Supplies Rent Truck Utilities Misc. Total expenses
Cash
Receivable
Supplies Land Payable Stock Dividends Earnings – Revenue Expense Expense Expense Expense Expense Expense Expense Net income
Bal. 39,000 80,000 11,000 50,000 31,500 50,000 98,500 – – – – – – – – –
a. + 21,000 – – – –
+
21,000 – – – – – – – – – –
Bal. 60,000 80,000 11,000 50,000 31,500 71,000 98,500 – – – – – – – – – b.
b.
Bal.
c.
Bal. Retained earnings, November 1, 2014
d.
Bal.
e.
Bal. Retained earnings, November 30, 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, November 1, 2014
Cash balance, November 30, 2014
=
+
Assets
Answers are entered in the cells with gray backgrounds.
+
+
0%
Name:
Section:
Instructions
Assets
Liabilities
Cells with non-gray backgrounds are protected and cannot be edited.
[Key code here]
Stockholders’ Equity
–
–
–
+
+
Statement of Cash Flows
Stockholders’ Equity
–
–
–
–
BEV‘S DRY CLEANERS
Stockholders’ Equity
+
BEV‘S DRY CLEANERS
Retained Earnings Statement
BEV‘S DRY CLEANERS
Balance Sheet
+
=
=
–
BEV‘S DRY CLEANERS
Income Statement
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
Rent expense 4,000
Truck expense 2,100
2. Liabilities Utilities expense 1,800
Dry Dry Miscellaneous expense 1,300
Accounts Accounts Capital Retained Cleaning Cleaning Wages Supplies Rent Truck Utilities Misc. Total expenses 69,850
Cash
Receivable
Supplies Land Payable Stock Earnings Dividends – Revenue Expense Expense Expense Expense Expense Expense Expense Net income 40,150$
Bal. 39,000 80,000 11,000 50,000 31,500 50,000 98,500 – – – – – – – – –
a. + 21,000 – – – –
+
For the Month Ended November 30, 2014
21,000 – – – – – – – – – –
Bal. 60,000 80,000 11,000 50,000 31,500 71,000 98,500 – – – – – – – – – b.
b. – 35,000 – – + 35,000 – – – – – – – – – – – –
4.
Cash flows from operating activities:
Cash received from customers 115,000$
+
Instructions
Assets
Cells with non-gray backgrounds are protected and cannot be edited.
Problem 1-5B
Solution
ON
Stockholders’ Equity
=
For the Month Ended November 30, 2014
BEV’S DRY CLEANERS
Statement of Cash Flows
Name:
Section:
Answers are entered in the cells with gray backgrounds.
=
+
+
–
–
–
–
–
=
+
Assets
Stockholders’ Equity
Retained Earnings Statement
+
+
+
=
–
–
–
BEV’S DRY CLEANERS
=
+
For the Month Ended November 30, 2014
+
+