Escolar Documentos
Profissional Documentos
Cultura Documentos
Date
(1)
Accounts
4/1/2012 Dr. Cash (+A)
Cr. Common Stock (+SE)
Cr. Additional Paid-in Capital (+SE)
Debits
Credits
250,000
25,000
225,000
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
3,900
3,900
52,000
103,000
124,000
31,000
33,000
33,000
120,000
2,000
2100
8,000
5,000
2,000
2100
8,000
5,000
(11)
(12)
2,500
2,000
2,500
1,200
(13)
(14)
(15)
(16)
(17)
(240 * 500)
120,000
(25,000 * 0.10)
2,500
2,000
2,500
1,200
120,100
4,200
124,300
40,000
38,000
2,000
35,000
30,000
82,000
35,000
30,000
82,000
4,900
(22)
(23)
(24)
(25)
(26)
(27)
(28)
(C1)
(C2)
4,900
30,000
(120,000/2) * 1/2
30,000
350
350
4,000
250
100
630
4,000
250
100
(1800*.35)
630
35,000
124,400
250
157,280
159,650
30,000
82,000
3,900
4,000
1,500
30,000
350
4,900
630
(240 * 500)
(25,000 * 0.10)
31,800
33,000-10,000)/25 *1/2
(120,000/2) * 1/2
(1)
(15)
(16)
(18)
Cash (A)
250,000
3,900
1,200
31,000
120,100
33,000
35,000
120,000
2100
8,000
5,000
2,000
2,500
38,000
82,000
Land (A)
(3)
(4)
(4)
(5)
(8)
(9)
(4)
(10)
(5)
(13)
Buildings (A)
52,000
33,000
85,000
(17)
(20)
(6)
(22)
124,000
Common Stock (SE)
25,000
2,100
(13)
25,000
(19)
(1)
(24)
1,750
(4)
(23)
Software (A)
(8)
(15)
1,100
250
(17)
(27)
120,000
Inventory (A)
2,000
30,000
40,000
12,000
(28)
(14)
5,000
(7)
(12)
350
(26)
103,000
4,200
(10)
(14)
(6)
78,800
(16)
103,000
(7)
(1)
(17)
225,000
(21)
(12)
(C2)
4,900
(C1)
(18)
(3)
35,000
(C1)
(C1)
(19)
(25)
4,000
(26)
(22)
1,500
(23)
(C2)
(C2)
(C2)
(24)
82,000
(C2)
630
(C2)
250
82,000
4,000
(28)
(27)
30,000
(20)
(C2)
250
30,000
4,900
(C2)
(16)
3,900
(21)
3,900
35,000
0
(C1)
(C2)
(C2)
Cash
Accounts Receivable
Notes Receivable
Interest Receivable
Inventory
Prepaid Advertising
Land
Buildings
Metal Detectors
Accumulated Depreciation
Software
Accounts Payable
Interest Payable
Dividends Payable
Income Taxes Payable
Unearned Rental Revenue
Mortgage Payable
Common Stock
Additional Paid-in-Capital
Retained Earnings
Rental Revenue
Sales
Interest Revenue
Unadjusted Balances
Debit
Credit
78,800
4,200
5,000
12,000
8,000
103,000
85,000
120,000
2,100
2,000
1,200
124,000
25,000
225,000
Adjustments
Debit
Credit
250
4,000
31,500
350
Adjusted Balances
Debit
Credit
78,800
4,200
5,000
250
12,000
4,000
103,000
85,000
120,000
31,500
1,750
2,000
4,900
630
1,100
124,000
25,000
225,000
4,900
630
100
2,500
Closing Entries
Debit
Credit
2,500
124,300
35,000
-
100
250
2,370
124,400
35,000
250
124,400
35,000
250
30,000
82,000
3,900
536,500
536,500
4,000
1500
30,000
350
4,900
630
41,730
41,730
30,000
82,000
3,900
4,000
1,500
30,000
350
4,900
630
573,780
573,780
159,650
30,000
82,000
3,900
4,000
1,500
30,000
350
4,900
630
159,650
Post-Closing Balances
Debit
Credit
78,800
4,200
5,000
250
12,000
4,000
103,000
85,000
120,000
31,500
1,750
2,000
4,900
630
1,100
124,000
25,000
225,000
130
-
414,130
414,130
Income Statement
$ 124,400
$ 35,000
$ 159,400
Cost of Revenues:
Met Det Depreciation Exp.
Software Amortization
Cost of Goods Sold
Total Costs of Revenue
Gross Profit
$ (30,000)
$
(350)
$ (30,000)
$ (60,350)
$ 99,050
$ (82,000)
$ (3,900)
$ (4,000)
$ (1,500)
$ (91,400)
$
7,650
Interest Revenue
Interest Expense
Pre-tax income
$
$
$
250
(4,900)
3,000
$
$
(630)
2,370
Page 10
Balance Sheet
$
$
$
$
$
$
$
12/31/2012
78,800
4,200
5,000
250
12,000
4,000
104,250
Land
Buildings
Metal Detectors
Less Accumulated Depreciation
Net Property, Plant, & Equipment
$
$
$
$
$
103,000
85,000
120,000
(31,500)
276,500
Software
12/31/2011
$
0
$
0
$
0
$
0
$
0
$
0
$
0
$
$
$
$
$
0
0
0
0
0
1,750 $
Total Assets
382,500 $
$
$
$
$
$
2,000
4,900
630
1,100
8,630
$
$
$
$
$
0
0
0
0
0
Mortgage Payable
Total Liabilities
$
$
124,000 $
132,630 $
0
0
Common Stock
Additional Paid-in-Capital
Retained Earnings
Total Shareholders' Equity
$
$
$
$
25,000
225,000
(130)
249,870
$
$
$
$
0
0
0
0
382,500 $
Page 11
No. Date
Transaction
Cash
Operating Investing Financing
(1)
4/1/2012 Sell shares
250,000
250,000
(2)
4/1/2012 Park loan
(3)
4/2/2012 Legal Fees
(3,900)
(3,900)
(4)
4/7/2012 Buy Bldg. & Land
(31,000)
(155,000) 124,000
(5) 5/25/2012 Bldg. Renovations
(33,000)
(33,000)
(6)
6/2/2012 Buy Metal Det.
(120,000)
(120,000)
(7) 6/30/2012 Buy Inventory
(8) 6/30/2012 Buy Software
(2,100)
(2,100)
(9) 6/30/2012 Buy Advertising
(8,000)
(8,000)
(10) 6/30/2012 Loan to Park
(5,000)
(5,000)
(11) 6/30/2012 Empl. Contracts
(12) 6/30/2012 Declare Dividends
(13) 7/31/2012 Pay Supplier
(2,000)
(2,000)
(14) 8/31/2012 Pay Dividends
(2,500)
(2,500)
(15) 12/1/2012 Rental prepayment
1,200
1,200
(16) 12/31/2012 Met Det revenues
120,100
120,100
(17) 12/31/2012 Buy Inventory
(38,000)
(38,000)
(18) 12/31/2012 Sundries sales
35,000
35,000
(19) 12/31/2012 COGS
(20) 12/31/2012 Pay Salaries
(82,000)
(82,000)
78,800
17,400
(310,100) 371,500
Cash Flow from Operations - Direct Method
Cash Collected from Customers
Cash Paid to Suppliers
Cash Paid to Employees
Cash Paid for Short-term Loans
Cash Paid for Miscellaneous Expenses
Net Cash from Operations
$
$
$
$
$
$
156,300
(40,000)
(82,000)
(5,000)
(11,900)
17,400
$ 31,850
$
(4,200)
$
(5,000)
$
(250)
$ (12,000)
$
(4,000)
$
2,000
$
1,100
$
4,900
$
630
$ 17,400
$ (120,000)
$ (103,000)
$ (85,000)
$
(2,100)
$ (310,100)
$
(2,500)
$ 250,000
$ 124,000
$ 371,500
78,800
$
$
0
78,800
2,370