CASE 6
ASSETS
1,200,000
817,110
880,000
2,875,250
2,000,000
LIABILITY
300,000
400,000
170,000
1,285,000
987,940
CAPITAL
700,050
360,000
468,000
945,000
580,250
REVENUE
555,100
170,360
338,000
1,713,250
513,000
WITHDRAWAL
95,000
78,250
46,000
698,000
35,000
EXPENSE
260,150
35,000
50,000
370,000
46,190
SOLUTIONS:
1) A = L + c – W + R – E
E=L+c–W+R–A
E = 300,000 + 700,050 - 95,000 + 555,100 - 1,200,000
E = 260,150
2) A = L + c – W + R – E
A = 400,000 + 360,000 – 78,250 + 170,360 – 35,000
A = 817,110
3) P = L + c – W + R – E
W=L+c–A+R–E
W = 170,000 + 468,000 – 880,000 + 338,000 – 50,000
W = 46,000
4) R = –L – c + W + A + E
R = –1,285,000 – 945,000 + 698,000 + 2,875,250 + 370,000
R= 1,713,250
5) P = L + c – W + R – E
L=A–c+W–R+E
L = 2,000,000 – 580,250 + 35,000 – 513,000 + 46,190
L = 987,940
CASE 7
Accounts payable
Accounts receivable
Office equipment
Cash in bank
Supplies unused
Vehicles
ACCOUNT TITLES
Furnitures and fixtures
Repairs and maintenance
Representation expense
Land
Tax
Prepaid expenses
Sean, capital
Supplies used
Sean, personal
Professional fee
Machinery
Depreciation
Long-term borrowings
Accumulated depreciation
Bad debts
Service income
Assets
Accounts
receivable
Office
equipment
Cash in bank
Supplies
unused
Vehicles
Furnitures and
fixtures
Land
Prepaid
expenses
Inventories
Machinery
Buildings
Liabilities
Accounts
payable
Long-term
borrowings
Accumulated
depreciation
Mortgages
Unearned
revenue
Business tax
payable
Mortgages
Salary
Miscellaneous income
Inventories
Insurance expense
Unearned revenue
Business tax payable
Buildings
SEAN SERVICES
Chart of Accounts
Proprietorship
Revenue
Sean, capital
Service income
Sean, personal
Expenses
Bad debts
Miscellaneous
Repairs and
income
maintenance
Professional fee Representation
expense
Tax
Salary
Supplies used
Depreciation
Insurance
expense