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The document outlines financial transactions and statements for a business over a specified period, including investments, revenue from services, and expenses. It presents the accounting equation, income statement, statement of owners' equity, statement of financial position, and statement of cash flows, showing a net income of $7,200 and ending capital of $36,000. The total assets and liabilities, along with owner equity, balance at $37,500.

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5 views

page 17

The document outlines financial transactions and statements for a business over a specified period, including investments, revenue from services, and expenses. It presents the accounting equation, income statement, statement of owners' equity, statement of financial position, and statement of cash flows, showing a net income of $7,200 and ending capital of $36,000. The total assets and liabilities, along with owner equity, balance at $37,500.

Uploaded by

amir wagdy
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Date

1-Jan
3-Jan
5-Jan
8-Jan
10-Jan
12-Jan
15-Jan
18-Jan
22-Jan
25-Jan
Notes

Investment by Owner 30000 $ Cash


purshases equipment 7000 $ - 4000 Cash & 3000 On creidit
paid insurance Expenses for one year 1500 $
Performed services and received $5,500 in cash - revenue
Performed services on credit for $3,200.
Paid $800 for office supplies
Received $2,000 cash from credit customers
Paid $1,500 for utilities Expenses
Paid $1,500 on the outstanding balance for the office equipment purchased.
Owner withdrew $1,200 for personal use
Accounting Equation

Assets
Cash Equipment AR Prepaid Expenses Office Supplies
30,000.00
(4,000.00) 7,000.00
(1,500.00) 1,500.00
5,500.00
3,200.00
(800.00) 800.00
2,000.00 (2,000.00)
(1,500.00)
(1,500.00)
(1,200.00)
27,000.00 7,000.00 1,200.00 1,500.00 800.00

37,500.00
Liabilites Owner Equitie & Capital
AP Investment Revenue Expenses Withdrawel
30,000.00
3,000.00

5,500.00
3,200.00

(1,500.00)
(1,500.00)
(1,200.00)
1,500.00 30,000.00 8,700.00 (1,500.00) (1,200.00)

37,500.00
Income Statement

Revenue
Service Revenue 8,700.00
Expenses
utilities Expenses (1,500.00)

Total Expenses (1,500.00)

Net Icome 7,200.00


Statement Of Owners Equity

Capital on opening Balance -

Add
Investment By Owner 30,000.00

Add
Net Income 7,200.00

Less
Withdrawel (1,200.00)

Ending Capital 36,000.00


Statement of Financial Position

Assets
Cash 27,000.00
Equipment 7,000.00
AR 1,200.00
Prepaid Expenses 1,500.00
Office Supplies 800.00

Total Assets 37,500.00

Liabilites & Owner Equity

Liabilites
AP

Ending Capital

Total Liabilites & Owner Equity


ition

1,500.00

36,000.00

37,500.00
Statement of Cash Flows

Cash Flows from Operating Activities


Cash Receipts from Revenues
Cash Payments for Expenses
Net Cash Provided by Operating Activities

Cash Flows from Investing Activities


Purshases Equipment
purshses office supplies
Prepaid Expenses
Net Cash Provided by Investing Activities

Cash Flows from Financing Activities


Investment by Owners
Withdrawals
Net Cash Provided by Financing Activities

Net increase in Cash

Add: Beg balance of Cash

Cash at the End of The Period


Flows

7,500.00
(1,500.00)
6,000.00

(5,500.00)
(800.00)
(1,500.00)
(7,800.00)

30,000.00

(1,200.00)
28,800.00

27,000.00

27,000.00

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