Assignment Exercise Unit 1 and 2


 

Unit 1. Adequate drill on the Excel overlay shuffle granted.

 

Exercise 10

 

Balance shuffle items

 

From the subjoined schedule of separated items smitten from the history of Wright Appliance Service as of a favoring conclusion, authenticate those that would answer on the equalize shuffle.

 

  • 1. Accounts Receivable

  • 2. Consummate Hoard

  • 3. Consummate

  • 4. Fees Earned

  • 5. Schism Outlay

  • 6. Salaries Outlay

  • 7. Salaries Payable

  • 8. Supplies

  • 9. Supplies Outlay

  • 10. Utilities Outlay

     

     

     

    Exercise-6

    Accounting equation

    Obj|4

    a. $10,829

    Determine the damage amounts (in millions) for the terse equalize shuffles shown beneath.

 

 

Costco

Target

Wal-Mart

Assets

$23,815

$44,533

$  (c)  

Liabilities

 12,986

(b)

97,777

Stockholders' equity

(a)

15,347

72,929

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercise -12

 

Financial announcement items

 

Obj|4

 

Identify each of the subjoined items as (a) an asset, (b) a impost, (c) wealth, (d) an outlay, or (e) a dividend:

 

  • 1.Amounts due from customers

  • 2.Amounts owing suppliers

  • 3.Cash on hand

  • 4.Cash hired to hoardholders

  • 5.Cash sales

  • 6.Equipment

  • 7.Note payable owing to the bank

  • 8.Rent hired for the month

  • 9.Sales commissions hired to salespersons

  • 10.Wages hired to employees

     

     

    Exercise-18

    Statement of consummate flows

    Obj|4

    Indicate whether each of the subjoined consummate activities would be reported on the announcement of consummate flows as (a) an unreserved principle, (b) an investing principle, or (c) a financing principle.

 

  • 1. Issued consummate hoard

  • 2. Hired schism

  • 3. Hired for station equipment

  • 4. Sold services

  • 5. Issued a voicelessness payable

  • 6. Sold debauchery station equipment

  • 7. Hired stationrs' salaries

  • 8. Hired for advertising

  • 9. Hired prophylactic

  • 10. Hired dividends

     

     

     

    Unit 2: Use Excel Overlay Shuffle to adequate this assignment.

     

    E2-17

    Income announcement

    Obj|3, 5

     

    Net allowance, $45,000

    After its primary month of production, the subjoined amounts were smitten from the accounting history of Benjamin Realty Inc. as of April 30, 2013.

 

Capital hoard

$25,000

Notes payable

$ 35,000

Cash

53,000

Rent outlay

5,000

Dividends

10,000

Retained hues

0

Interest outlay

2,000

Salaries outlay

75,000

Land

42,000

Sales commissions

145,000

Miscellaneous outlay

3,000

Utilities outlay

15,000

 

Prepare an allowance announcement for the month consummation April 30, 2013.

 

 

 

E2-18

 

Retained hues announcement

 

Obj|3, 5

 

Retained hues, April 30, 2013, $35,000

 

Using the financial postulates shown in Drill 2-17 for Benjamin Realty Inc., plan a retained hues announcement for the month consummation April 30, 2013.

 

E2-19

 

Balance shuffle

 

Obj|3, 5

 

Total property, $95,000

 

Using the financial postulates shown in Drill 2-17 for Benjamin Realty Inc., plan a equalize shuffle as of April 30, 2013.