会计学 实例综合大全文档格式.docx
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会计学 实例综合大全文档格式.docx
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Equipment
21000
Servicerevenue
108000
Interestexpense
4000
Supplies
Interestpayable
1000
Utilitiesexpense
Land
8000
Theowner’sbeginningbalance,LindaElkins,Capital,was$43000,andduringtheyearElkinswithdrew$32000forpersonaluse.
REQUIRED:
1.PreparetheincomestatementofAspenSupplyCo.fortheyearendedDecember31,2004.
2.Preparethecompany’sstatementofowner’sequityfortheyearendedDecember31,2004.
3.Preparethecompany’sbalancesheetatDecember31,2004.
4.Answerthesequestionsaboutthecompany
a.Wastheresultofoperationsfortheyearaprofitoraloss?
Howmuch?
b.DidElkinsdrainoffalltheearningsfortheyear,ordidshebuildthecompany’scapitalduringtheperiod?
Howwouldheractinsaffectthecompany’sabilitytoborrowinthefuture?
CASE2PREPARETHECONRECTBALANCESHEET
ThebookkeeperofHaynesEditorialServicepreparedthebalancesheetofthecompanywhiletheaccountantwasill.Thebalancesheetcontainsnumerouserrors.Inparticular,thebookkeeperknewthatthebalancesheetshouldbalance,sohepluggedintheowner’sequityamounttoachievethisbalance.Theowner’sequityamount,however,isnotcorrect.Allotheramountsareaccurate,butsomeareoutofplace.
HAYNESEDITORIALSERVESE
BalanceSheet
MonthEndedOctober31,2003
ASSETS
LIABILITIES
5400
Notesreceivable
14000
Insuranceexpense
300
2000
31500
Officesupplies
800
3300
2600
Officefurniture
6700
21000
3000
2100
OWNER’SEQUITY
Owner’sequity
11900
Totalassets
Totalliabilities
52300
1.Preparethecorrectbalancesheet,anddateitcorrectly.Computetotalassets,totalliabilities,andowner’sequity.
2.Identifytheaccountsthatshouldnotbepresentedonthebalancesheetandstatewhyyouexcludedthemfromthecorrectbalancesheetyoupreparedforrequirement1.
CASE3RECORDTRANSACTIONSANDPREPARETHEFINANCIALSTATEMENT
AllenMusserstartedaconsultingserviceandduringthefirstmonthofoperations(June2003)completedthefollowingselectedtransactions:
a.Musserbeganthebusinesswithaninvestmentof$5,000cashandabuildingvaluedat$60,000.ThebusinessgaveMusser’sequityinthebusiness.
b.Borrowed$30,000fromthebank;
signedanotepayable.
c.Purchasedofficesuppliesonaccount,$2,100.
d.Paid$18,000forofficefurniture.
e.Paidemployee’ssalary.$2,200.
f.Performedconsultingserviceonaccountforclient,$5,100.
g.Paid$800oftheaccountpayablecreatedintransaction(c).
h.Receiveda$600billforadvertisingexpensethatwillbepaidinthenearfuture.
i.Performedconsultingserviceforcustomersandreceivedcash,$1,600.
j.Receivedcashonaccount,$1,200
k.Paidthefollowingcashexpenses:
(1)Rentonland,$700;
(2)Utilities,$400
l.Withdrew$7,500forpersonaluse.
REQUIED:
1.OpentheT-accounts.
2.RecordeachtransactiondirectlyintheT-accountwithoutusingajournal,usingtheletterstoidentifythetransactions.
3.PreparethetrialbalanceofMusserConsultingServiceatJune30,2003.
4.Preparetheincomestatement,thestatementofowner’sequity,andthebalancesheetofMusserConsultingServiceattheJune30,2003.
CASE4MAKEDECISION:
TOBUYACOMPANYORNOT?
BenjaminO’henryhasowenedandoperatedO’HenryDataServicessinceitsbeginningtenyearsago.Fromallappearances,thebusinesshasprospered.Inthepastfewyears,youhavebecomefriendswithO’Henryandhiswifethroughyourchurch.Recently,O’Henrymentionedthathehaslosthiszestforthebusinessandwouldconsidersellingitfortherightprice.Youareinterestedinbuyingthisbusinessandobtainitsmostrecentmonthlyunadjustedtrialbalance,whichfollows.
O’HENRY’SDATASERVICES
UnadjustedTrialBalance
November20xx
Cash
9700
7900
Prepaidexpenses
Furniture,andequipment
151300
Accumulateddepreciation
15600
3800
Salarypayable
Unearnedservicerevenue
BenjaminO’Henry,capital
137400
BenjaminO’Henry,withdrawals
14300
Salaryexpense
3400
900
Depreciation
Suppliesexpense
Total
Revenuesandexpensesvaryfrommonthtomonth,andNovemberisatypicalmonth.Yourinvestigationrevealsthattheunadjustedtrialbalancedoesnotincludetheeffectsofmonthlyrevenuesof$2,100andmonthlyexpensestotaling$2,750.IfyouweretobuyO”Henry’DataServices.Youwouldhireamanagerwhowouldrequireamonthlysalaryof$3,000.
1.Themostyouwouldpayforthebusinessis20timesthemonthlynetincomeyoucouldexpecttoearnformit.Computethepossibleprice.
2.TheleastO”Henrywilltakeforthebusinessishisendingcapital.Computethisamount.
3.Undertheseconditions,howmuchshouldyouofferO”Henry?
Giveyourreason.
CASE5WasMaltbee’ssummerworksuccessful?
DougMaltbeeformedalawnservicebusinessasasummerjob.TostarttbusinessonMay1,hedeposited$1,000inanewbankaccountinthenameoftheproprietorship.The$1,000consistedofa$600loanfromhisfatherand$400ofhisownmoney.Dougrentedlawnequipment,purchasedsupplies,andhiredfellowstudentstomowandtrimhiscustomer’slawns.
Attheendofeachmonth,Dougmailedbillstohiscustomers.OnAugust31,hewasreadytodissolvethebusinessandreturntoLouisianaStateUniversityforthefallsemester.Becausehewassobusy,hekeptfewrecordsotherthanhischeckbookandalistofamountsowedtohimbycustomers.
AtAugust31,Doug’scheckbookshowsabalanceof$690,andhiscustomersstillowehim$500.Duringthesummer,hecollected$4,250fromcustomers.Hischeckbooklistspaymentsforsuppliestotaling$400,andhestillhasgasoline,weedeatercord,andothersuppliesthatcostatotalof$50.Hepaidhisemployees$1,900,andhestillowesthem$200forthefinalweekofthesummer.
DougrentedsomeequipmentfromScholesMachineShop.OnMay1,hesignedasix-monthleaseonmowersandpaid$600forthefullleaseperiod.Scholeswillrefundtheunusedportionoftheprepaymentiftheequipmentisingoodshape.Inordertogettherefund,Doughaskeptthemowersinexcellentcondition.Infact,hehadtopay$300torepairamower.
Totransportemployeesandequipmenttojobs,Dougusedtrailertatheboughtfor$300.Hefiguresthatthesummer’sworkusedupone-thirdofthetrailerthatheboughtforthebusiness.Checkbooklistsapaymentof$460forcashwithdrawalsbyDougduringthesummer.DougpaidhisfatherbackduringAugust.
1.PreparetheincomestatementofMaltbeeLawnServiceforthefourmonthsMaythroughAugust.
2.PreparetheclassifiedbalancesheetofMaltbeeLawnServiceatAugust31.
3.WasMaltbee’ssummerworksuccessful?
Givethereasonforyouranswer.
CASE6TOADJUSTUSINGTHEWORKSHEET
FreshMarketGrocery’strialbalancepertainstoDecember31,2001
FRESHMARKETGROCERY
TRIALBALANCE
December31,2001
2910
6560
Inventory
101760
Storesupplies
1990
Prepaidinsurance
3200
Storefixtures
63900
37640
29770
Notespayable,long-term
37200
ElaineLorens,capital
63120
ElaineLorens,withdrawals
36300
Salesrevenue
286370
Costofgoodssold
161090
46580
14630
6780
Depreciationexpenses
Insuranceexpenses
5300
Storesuppliesexpense
Interestexpenses
3100
454100
AdditionaldataatDecember31,2001:
a.Insuranceexpensefortheyear,$6,090.
b.Storefixtureshaveanestimatedusefullifeoftenyearsandareexpectedtobeworthlesswhentheyareretiredfromservice.
c.AccruedsalariesatDecember31,$1,260.
d.AccruedinterestexpenseatDecember31,$870.
e.StoresuppliesonhandatDecember31,$760.
f.InventoryonhandatDecember31,$94,780.
1.CompleteFreshMarket’sworksheetfortheyearendedDecember31,2001.Keyadjustingentriesbyletter.
2.WhatwasthenetincomefortheyearendedDecember31,2001?
3.Whatwastheendingbalanceofthecapitalaccount?
Case07Determiningcostofpurchase
ThefollowingisanexcerptfromaconversationbetweenJoeHitachiandKimKenwood.JoeisdebatingwhethertobuyastereosystemfromAudio-Tec,alocallyownedelectronicsstore,orPowerhouse,amail-orderelectronicscompany.
Joe:
Kim,Idon’tknowwhattodoaboutbuyingmynewstereo.
Kim:
Sowhat'
stheproblem?
Well,IcanbuyitlocallyatAudio-Tecfor$689.95.However,PowerhouseElectronicshasthesamesystemlistedfor$699.99.
Sowhat’sthebigdeal?
BuyitfromAudio-Tec.
It’snotquitethatsimple.Powerhousesaidsomethingaboutnothavingtopaysalestax,sinceIwasout-of-state.
Yesthat’sagoodpoint.IfyoubuyitatAudio-Tec,they’llchargeyou6%salestax.
ButPowerhouseElectronicscharges$15forshippingandhanding.IfIhavethemsenditnext-dayair,it
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