PROBLEM 1A-5 (CONTINUED)
(b)
TRUMAN’S CATERING SERVICE
BALANCE SHEET
MAY 31, 201X
ASSETS
LIABILITIES AND OWNER’S EQUITY
Cash
$31
2
0
0
Liabilities
Equipment
3
7
0
0
Accounts Payable
9
0
0
Owner’s Equity
0
0
0
Total Liabilities and
Total Assets
0
0
Owner’s Equity
0
0
(c)
TRUMAN’S CATERING SERVICE
INCOME STATEMENT
MONTH ENDED JUNE 30, 201X
Revenue:
Catering Revenue
$4
4
7
5
Operating Expenses:
Salaries Expense
9
0
Telephone Expense
6
0
Rent Expense
0
0
Supplies Expense
5
0
Total Operating Expenses
8
0
0
Net Income
$2
6
7
5
PROBLEM 1-5A(CONCLUDED)
(d)
TRUMAN’S CATERING SERVICE
STATEMENT OF OWNER’S EQUITY
MONTH ENDED JUNE 30, 201X
J. Truman, Capital June 1, 201X
$33
0
0
0
Net Income for June
$2
6
Less: Withdrawals for June
0)
Increase in Capital
2
5
8
5
$35
5
8
5
(e)
TRUMAN’S CATERING SERVICE
BALANCE SHEET
JUNE 30, 201X
ASSETS
LIABILITIES AND OWNER’S EQUITY
Cash
$34
2
3
0
Liabilities
PROBLEM 1B-1
MADELINE’S NAIL SPA
Transaction
Assets =
Liabilities + Owner’s Equity
Cash
Store Equipment
Accounts
Payable
M. Abdul, Capital
b.
(3,900)
(800)
Total
12,300
PROBLEM 1B-2
SAM‘S INTERNET SERVICE
BALANCE SHEET
SEPTEMBER 30, 201X
ASSETS
LIABILITIES AND OWNER’S EQUITY
Cash
$ 5
0
0
0
Liabilities
34
PROBLEM 1B-3
FANNIER COMPUTER SERVICE
Expenses
480
+1,000
–
–
–
OWNER’S
EQUITY
Computer
Service
Revenue
1,900
+
+
+
R.
Fannier
Withd.
0
–
–
–
R.
Fannier,
Capital
17,000
+
+
+
+
LIABILITIES
Accounts
Payable
5,000
+1,000
=
=
=
=
Computer
Equipment
5,000
+
+
+
ASSETS
Accounts
Receivable
1,200
+
+
+
Cash
17,220
BALANCE
g.
–
+
–
+
=
+
+
BALANCE
PROBLEM 1B-4
(a)
WADDEN HOME DECORATING SERVICE
INCOME STATEMENT
MONTH ENDED SEPTEMBER 30, 201X
Revenue:
Home Decorating Fees
$2
4
0
0
Advertising Expense
$
2
5
0
Repair Expense
4
0
Travel Expense
7
5
0
Rent Expense
3
0
0
Total Operating Expenses
4
3
5
Net Income
9
6
5
(b)
WADDEN HOME DECORATING SERVICE
STATEMENT OF OWNER’S EQUITY
MONTH ENDED SEPTEMBER 30, 201X
J. Wadden, Capital, September 1, 201X
$2
6
7
5
6
5
(c)
WADDEN HOME DECORATING SERVICE
BALANCE SHEET
SEPTEMBER 30, 201X
ASSETS
LIABILITIES AND OWNER’S EQUITY
Cash
$2
5
0
0
Liabilities
PROBLEM 1B-5
OWNER’ S EQUITY
Expenses
0
1,550
–
+
+
+
–
+
+
+
=
=
=
+
+
+
+
+
+
11/30
–
–
–
–
–
–
–
Catering
Revenue
0
2,150
+1,000
+
+
+
+
+
+
+
TRICKETT’ S CATERING SERVICE
J.
Trickett,
Withd
0
+400
400
–
–
–
–
–
–
–
J. Trickett,
Capital
+22,000
22,000
22,000
+
+
+
+
+
+
+
+
LIABILITIES
Accounts
Payable
0
1,300
=
=
=
=
=
=
=
=
Equipment
0
+700
2,800
+
+
+
+
+
+
+
ASSETS
Accounts
Receivable
0
50
+
+
+
+
+
+
+
Cash
+22,000
22,000
(700)
(400)
20,650
+1,000
10/25
BALANCE
10/27
11/17
BALANCE
11/20
0
–
–
–
–
–
+
+
+
+
+
+
–
–
–
–
–
–
+
+
+
+
+
+
=
=
=
=
=
=
+
+
+
+
+
+
0
0
+
+
+
+
+
+
22,500
PROBLEM 1B-5 (CONTINUED)
(b)
TRICKETT’S CATERING SERVICE
BALANCE SHEET
OCTOBER 31, 201X
ASSETS
LIABILITIES AND OWNER’S EQUITY
2
(c)
TRICKETT’S CATERING SERVICE
INCOME STATEMENT
MONTH ENDED NOVEMBER 30, 201X
Revenue:
Catering Revenue
$3
1
5
0
Operating Expenses:
Salaries Expense
5
0
0
Supplies Expense
2
5
0
8
0
0
PROBLEM 1B-5(CONCLUDED)
(d)
TRICKETT’S CATERING SERVICE
STATEMENT OF OWNER’S EQUITY
MONTH ENDED NOVEMBER 30, 201X
J. Trickett, Capital, November 1, 201X
$22
0
0
0
0
(e)
TRICKETT’S CATERING SERVICE
BALANCE SHEET
NOVEMBER 30, 201X
ASSETS
LIABILITIES AND OWNER’S EQUITY
$21
$2
22
FINANCIAL REPORT PROBLEM SOLUTION—2016 Amazon’s Annual Report
YEAR
Cash and Cash Equivalents
$15,890 million
KEEPING IT REAL—Suarez Computer Center Solution
Expenses
800
+100 (Util.)
900
–
+
+
=
+
+
+
OWNER’S EQUITY
–
–
–
Service
Revenue
1,700
1,700
+
+
+
Falco,
Withdrawals
–
=LIABILITIES+
Falco,
+Capital
12,500
12,500
SUAREZ COMPUTER CENTER
Accounts
Payable
+
+
500
+100
600
=
=
=
Office
Equipment
1,500
1,500
+
+
+
Computer
Shop Equipment
1,260
1,260
+
+
+
ASSETS
Supplies
500
500
+
+
+
Cash
10,640
10,640
BALANCE
h.
BALANCE
12,500
12,500
+
+
500
=
=
1,500
+
1,260
1,260
+
+
500
+
BALANCE
BALANCE
f.
SUAREZ COMPUTER CENTER
INCOME STATEMENT
FOR THE MONTH ENDED JULY 31, 201X
Revenue:
Service Revenue
$3
1
0
0
00
Operating Expenses:
Rent Expense
8
Utilities Expense
1
0
0
00
Total Operating Expenses
9
0
Net Income
$2
2
0
0
00
SUAREZ COMPUTER CENTER
STATEMENT OF OWNER’S EQUITY
FOR MONTH ENDED JULY 31, 201X
T. Falco, Capital, July 1, 201X
$
0
00
Total investment for July
5
0
0
$2
2
0
0
00
Less: Withdrawals for July
5
Increase in Capital
7
0
0
T. Falco, Capital, July 31, 201X
2
0
0
SUAREZ COMPUTER CENTER
BALANCE SHEET
JULY 31, 201X
ASSETS
LIABILITIES AND OWNER’S EQUITY
Cash
$10
5
4
0
00
Liabilities:
Supplies
5
0
0
00
Accounts Payable
$
6
0
0
00
Computer Shop Equipment
2
6
0
00
Office Equipment
5
0
0
00
$13
8
0
0
00
$13
8
0
0
00