add transaction where deemed fit
pboard Font Alignment Nu 1 x fx A D E F G H 1 Each of the remaining sheets in this file contains 1) a description of a transaction and 2) a partially completed balance sheet, income statement, and statement of retained earnings. For each transaction, show how the financial statements would change. Each transaction is independent, so you can work through the file in any order you like. All changes are entered in the blue cells on the statements. Each statement has two columns. Values in the first column are selected from a drop-down menu. For a given transaction, there may be several (or even many) blue cells that do not need to be changed. Instructions Trans #1 TEN Module Team FORMULAS DATA REVIEW WW ENTERPRISE CONNECT a E Wrap Tot HOME INSERT PAGE LAYOUT Xcut Calib Copy BIU. Fomat Painter Chocard Font General NO DA Mege & Center - $. %. 8 9 Conditional Format Formatting Table - Agnment Number A D EFG H Statement of Financial Position ASSETS Current assets: Income Statement Transaction and employees $2.000 for wages earned up to the end of last week Gross profit Operating expenses: Total current assets Total assets LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities Current liabilities: Total operating expenses Earnings from operations Earnings before income taxes Total current liabilities Net income Total liabilities Shareholders' Equity Statement of Retained Earnings Beginning balance Total shareholders' equity Total abilities and shareholders' equity Ending balance Teams T2 Tarm Tra? Tras Transa Trans BTW...A. Merge Center $ - % Copy Format Pa Card * Conditional Formats Formatting Table or Alignment Number A D EFG H K Income Statement Statement of Financial Position ASSETS Current assets Transaction Received $400 from customers who had purchased inwentory on credit Last month. Gross profit Operating expenses: Total current assets Total assets LIABILITIES AND SHAREHOLDERS' EQUITY tlabilities Current abilities: Total operating expenses Earnings from operations Earnings before income taxes Net income Total current abilities Total abilities ShareholdersEquity Statement of Retained Earnings Beginning balance Total shareholders equity Total abilities and shareholders' equity Ending balance Tea T10 DATA FORMULAS REVIEW VIEW ENTERPRISE CONNECT PAGE LAYOUT HOME Normal - General . Wap Test Calih Copy $ % BTU S.A. + Merge & Center Conditional Formatas Car Formatting Table- Tone Ant Number D C EFG H income Statement Statement of Financial Position ASSETS Current assets: Transaction: Paid $100 for an advertisement in the local newspaper , Gross profit Operating expenses Total current assets Total assets LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities Current liabilities: Total operating expenses Earnings from operations Earnings before income taxes Net income Total current liabilities Total abilities Shareholders' Equity Statement of Retained Earnings Beginning balance Total shareholders' equity Total abilities and shareholders' equity Ending balance REAL T Trans Ten To * DATA FORMULAS REVIEW VEW PAGE LAYOUT Non General - Wrap Ted + Merge & Center Agent $% Conditional Formatascota Formatting Table Panel Number G Font Doord DEFG H A Income Statement Statement of Financial Position ASSETS Current assets Transaction. Purchased $1,200 of inventory on credit Gross profit Operating expenses: Total current assets Total assets LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities Current liabilities: Total operating expenses Earnings from operations Earnings before income taxes Net income Total current liabilities 16 Total liabilities Shareholders' Equity Statement of Retained Earnings Beginning balance Total shareholders' equity Total liabilities and shareholders' equity Ending balance 22 21 IT Tu 14 Trans To General Calibri Weap Test Merge & Center- $. %. Be Copy fomat Painter Conditional Formatas Formatting Table BIVA Numbe Agent H DEFG Income Statement Statement of Financial Position ASSETS Current assets: Gross profit Operating expenses Transaction Sold inventory to customers for so. The inventory cost the business 5400. The customers and cash at the time of Total current assets Total assets LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities Current bites: Total operating expenses Earnings from operations 12 11 14 Earnings before income taxes Net income Total current liabilities 15 Totallibilities Shareholders' Equity 19 Statement of Retained Earnings Beginning balance Total shareholders' equity Total abilities and shareholders' equity Ending balance Trans Trans Tort XV D EFG A Income Statement Statement of Financial Position ASSETS Current assets Transaction Paid $800 to suppliers for inventory that had been purchased on credit last month Gross profit Operating expenses Total current assets Total assets LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities Current liabilities: Total operating expenses Earnings from operations Earnings before income taxes Net income Total current liabilities ST Total abilities Shareholders' Equity Statement of Retained Earnings Beginning balance Total shareholders equity Totalities and shareholders equity Ending balance Trans Trans 10 Number Agent Font D EFG H A Income Statement Statement of Financial Position ASSETS Current assets: Transaction: Sold inventory to customers on credit for $400 The inventory cost the business $350 Gross profit Operating expenses Total current assets Total assets LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities Current liabilities: Total operating expenses Earnings from operations 17 Earnings before income taxes Net income Total current liabilities Total liabilities Shareholders' Equity Statement of Retained Earnings Beginning balance Total shareholders' equity Totalities and shareholders' equity Ending balance Trans Team Tra79 H C D EFG Income Statement Statement of Financial Position ASSETS Current assets: Transaction led 100 shares for $4,000 cash Gross profit Operating expenses: Total current assets Total operating expenses Earnings from operations Total assets LIABILITIES AND SHAREHOLDERS' EQUITY Llabilities Current liabilities: Earnings before income taxes 14 Net income Total current liabilities Total abilities Shareholders' Equity Statement of Retained Earnings Beginning balance Total shareholders' equity Total liabilities and shareholders' equity 24 Ending balance Trans Trans Trans 10 DO D EFG H Income Statement Statement of Financial Position ASSETS Current assets Gross profit Operating expenses: Transaction Purchased and to be used in the business. The Land cost $8.000. Paid $4,000 cash and signed a note payable for $4,000 Total current assets Total assets LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities Current abilities: Total operating expenses Earnings from operations Earnings before income taxes Net income Total current liabilities Total liabilities Shareholders' Equity Statement of Retained Earnings Beginning balance Total shareholders' equity Total liabilities and shareholders equity Ending balance To Trans D H EFG income Statement statement of Financial Position ASSETS Current avete Transaction: Sold 100 g cards to customers. The customers Gross profit Operating expenses Total current assets Total assets LABUTIES AND SHAREHOLDERS' EQUITY Liabilities Current abilities Total operating expenses Earnings from operations Earnings before income taxes Net income Total current abilities Total abilities Shareholders Equity Statement of Retained Earnings Beginning balance Total shareholders' equity Totallibilities and shareholders uity inding balance 9 TP H
